Zacks Investment Research upgraded shares of Euronav (NYSE:EURN) from a strong sell rating to a hold rating in a research note published on Monday.
According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “
EURN has been the topic of a number of other research reports. JPMorgan Chase upped their price target on shares of Euronav from $8.50 to $9.00 and gave the company a neutral rating in a research note on Friday, March 23rd. DNB Markets upgraded shares of Euronav from a hold rating to a buy rating in a research note on Tuesday, March 6th. Morgan Stanley upgraded shares of Euronav from an equal weight rating to an overweight rating and set a $10.00 price target on the stock in a research note on Monday, February 12th. TheStreet upgraded shares of Euronav from a d+ rating to a c rating in a research note on Thursday, January 25th. Finally, UBS upped their price target on shares of Euronav from $8.75 to $9.25 and gave the company a neutral rating in a research note on Friday, January 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $9.29.
Euronav stock opened at $8.80 on Monday. The stock has a market cap of $1,369.20, a PE ratio of -97.78 and a beta of 0.54. Euronav has a fifty-two week low of $6.90 and a fifty-two week high of $9.65.
Euronav (NYSE:EURN) last released its quarterly earnings data on Thursday, January 25th. The shipping company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. The company had revenue of $119.00 million for the quarter, compared to analyst estimates of $121.46 million. Euronav had a net margin of 0.24% and a negative return on equity of 1.16%. research analysts predict that Euronav will post -0.64 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group boosted its holdings in Euronav by 8.4% in the 4th quarter. Schroder Investment Management Group now owns 242,621 shares of the shipping company’s stock valued at $1,864,000 after purchasing an additional 18,870 shares during the period. FNY Partners Fund LP boosted its holdings in Euronav by 6.3% in the 4th quarter. FNY Partners Fund LP now owns 251,894 shares of the shipping company’s stock valued at $2,330,000 after purchasing an additional 15,000 shares during the period. Swiss National Bank boosted its holdings in Euronav by 4.3% in the 4th quarter. Swiss National Bank now owns 218,867 shares of the shipping company’s stock valued at $2,017,000 after purchasing an additional 8,984 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Euronav by 20.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock valued at $773,000 after purchasing an additional 16,120 shares during the period. Finally, Jefferies Group LLC bought a new stake in Euronav in the 4th quarter valued at about $163,000. 22.87% of the stock is owned by hedge funds and other institutional investors.
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Euronav Company Profile
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean 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 April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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