Euronav NV (NYSE:EURN) Expected to Announce Earnings of $0.84 Per Share

Analysts expect that Euronav NV (NYSE:EURN) will post $0.84 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Euronav’s earnings, with estimates ranging from $0.74 to $0.90. Euronav reported earnings per share of $0.06 during the same quarter last year, which suggests a positive year over year growth rate of 1,300%. The company is scheduled to issue its next earnings results on Thursday, January 23rd.

On average, analysts expect that Euronav will report full year earnings of $0.62 per share for the current financial year, with EPS estimates ranging from $0.61 to $0.63. For the next financial year, analysts expect that the business will report earnings of $1.37 per share, with EPS estimates ranging from $1.12 to $1.50. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Euronav.

Euronav (NYSE:EURN) last released its earnings results on Tuesday, October 29th. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.06. The company had revenue of $90.44 million during the quarter, compared to analyst estimates of $134.83 million. Euronav had a negative return on equity of 1.31% and a negative net margin of 5.12%.

Several research firms recently weighed in on EURN. ValuEngine downgraded Euronav from a “hold” rating to a “sell” rating in a research note on Tuesday. Evercore ISI restated a “buy” rating and set a $16.00 price objective on shares of Euronav in a research report on Monday, August 12th. Zacks Investment Research raised Euronav from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday, October 21st. Finally, Stifel Nicolaus upgraded Euronav from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Euronav has an average rating of “Buy” and an average price target of $12.50.

Several hedge funds and other institutional investors have recently bought and sold shares of EURN. Vanguard Group Inc. raised its position in shares of Euronav by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,589,312 shares of the shipping company’s stock valued at $43,324,000 after acquiring an additional 111,349 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in shares of Euronav by 1.6% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,176,450 shares of the shipping company’s stock valued at $20,546,000 after buying an additional 34,812 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Euronav by 249.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,615,704 shares of the shipping company’s stock worth $15,202,000 after buying an additional 1,153,365 shares during the last quarter. GAM Holding AG boosted its stake in shares of Euronav by 31.4% in the 2nd quarter. GAM Holding AG now owns 1,089,877 shares of the shipping company’s stock worth $10,220,000 after buying an additional 260,465 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Euronav by 6.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 812,045 shares of the shipping company’s stock worth $7,465,000 after buying an additional 50,746 shares during the last quarter. 28.51% of the stock is currently owned by institutional investors and hedge funds.

Shares of EURN stock opened at $10.56 on Friday. Euronav has a 1-year low of $6.77 and a 1-year high of $11.79. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $11.02 and its 200-day simple moving average is $9.33.

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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Earnings History and Estimates for Euronav (NYSE:EURN)

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