Euronav NV (NYSE:EURN) Expected to Post Earnings of $0.86 Per Share

Wall Street analysts predict that Euronav NV (NYSE:EURN) will report $0.86 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Euronav’s earnings, with estimates ranging from $0.39 to $1.11. Euronav reported earnings per share of ($0.18) in the same quarter last year, which would indicate a positive year-over-year growth rate of 577.8%. The company is expected to report its next quarterly earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Euronav will report full year earnings of $3.12 per share for the current fiscal year, with EPS estimates ranging from $2.63 to $3.61. For the next financial year, analysts anticipate that the firm will post earnings of $1.43 per share, with EPS estimates ranging from $0.58 to $2.18. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Euronav.

Euronav (NYSE:EURN) last announced its earnings results on Thursday, May 7th. The shipping company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.14. Euronav had a net margin of 29.07% and a return on equity of 14.13%. The business had revenue of $383.99 million for the quarter, compared to the consensus estimate of $341.69 million.

Several equities research analysts have recently weighed in on the stock. Fearnley Fonds downgraded shares of Euronav from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Zacks Investment Research downgraded shares of Euronav from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. DNB Markets raised shares of Euronav from a “hold” rating to a “buy” rating and set a $13.50 price target on the stock in a research note on Thursday, May 28th. Finally, ValuEngine downgraded shares of Euronav from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $13.50.

Shares of EURN traded up $0.16 during midday trading on Wednesday, hitting $8.08. The stock had a trading volume of 63,958 shares, compared to its average volume of 2,945,310. Euronav has a 1 year low of $7.21 and a 1 year high of $13.21. The firm has a market cap of $1.74 billion, a PE ratio of 5.36 and a beta of 0.38. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.92. The stock’s 50 day moving average is $9.66 and its 200 day moving average is $10.41.

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Tuesday, June 16th were paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 40.10%. The ex-dividend date was Monday, June 15th. Euronav’s dividend payout ratio is presently 589.09%.

A number of hedge funds have recently bought and sold shares of the stock. Swiss National Bank increased its position in Euronav by 2.9% during the 4th quarter. Swiss National Bank now owns 336,947 shares of the shipping company’s stock valued at $4,151,000 after purchasing an additional 9,430 shares during the period. Victory Capital Management Inc. purchased a new position in Euronav during the 4th quarter valued at about $18,918,000. Acadian Asset Management LLC purchased a new position in Euronav during the 4th quarter valued at about $110,000. Quantbot Technologies LP purchased a new position in Euronav during the 4th quarter valued at about $379,000. Finally, Barclays PLC increased its position in Euronav by 88.5% during the 4th quarter. Barclays PLC now owns 1,027,370 shares of the shipping company’s stock valued at $12,884,000 after purchasing an additional 482,480 shares during the period. 34.48% of the stock is currently owned by institutional investors.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.

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