Euronav (EURN) Releases Earnings Results, Beats Estimates By $0.05 EPS

Euronav (NYSE:EURN) issued its earnings results on Thursday. The shipping company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05, reports. The business had revenue of $78.14 million during the quarter, compared to the consensus estimate of $65.60 million. Euronav had a negative return on equity of 5.18% and a negative net margin of 16.10%.

Shares of Euronav opened at $8.35 on Friday, Marketbeat reports. The company has a market cap of $1.35 billion, a PE ratio of -92.78 and a beta of 0.53. Euronav has a 12-month low of $6.90 and a 12-month high of $10.10. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.45.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of Euronav by 43.5% in the 2nd quarter. FMR LLC now owns 4,357,144 shares of the shipping company’s stock worth $40,053,000 after acquiring an additional 1,320,660 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Euronav by 24.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 179,600 shares of the shipping company’s stock worth $1,652,000 after acquiring an additional 34,941 shares during the period. BlackRock Inc. grew its holdings in shares of Euronav by 1,003,395.9% in the 2nd quarter. BlackRock Inc. now owns 3,883,529 shares of the shipping company’s stock worth $35,729,000 after acquiring an additional 3,883,142 shares during the period. GAM Holding AG grew its holdings in shares of Euronav by 1,107.0% in the 2nd quarter. GAM Holding AG now owns 653,239 shares of the shipping company’s stock worth $6,010,000 after acquiring an additional 599,119 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Euronav by 26.0% in the 2nd quarter. Swiss National Bank now owns 280,554 shares of the shipping company’s stock worth $2,569,000 after acquiring an additional 57,885 shares during the period. Institutional investors and hedge funds own 21.42% of the company’s stock.

A number of equities analysts have recently issued reports on the company. ValuEngine raised Euronav from a “hold” rating to a “buy” rating in a research note on Thursday, May 24th. JPMorgan Chase & Co. increased their target price on Euronav from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday. Finally, Zacks Investment Research raised Euronav from a “strong sell” rating to a “hold” rating in a research note on Monday, April 16th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.55.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in 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 March 19, 2018, it owned and operated a fleet of 53 vessels, including 28 very large crude carriers, 1 V-Plus vessel, 22 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.

Featured Story: Are Wall Street analysts’ stock ratings worth following?

Earnings History for Euronav (NYSE:EURN)

Receive News & Ratings for Euronav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Euronav and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply