Euronav (NYSE:EURN) Downgraded by ING Group

ING Group cut shares of Euronav (NYSE:EURN) from a buy rating to a hold rating in a research note published on Monday morning, Price Targets.com reports.

EURN has been the subject of several other research reports. Zacks Investment Research lowered Euronav from a hold rating to a strong sell rating in a research report on Tuesday, April 6th. TheStreet downgraded shares of Euronav from a b- rating to a c+ rating in a research note on Monday, February 8th. BTIG Research raised shares of Euronav from a neutral rating to a buy rating and set a $12.00 price objective for the company in a research note on Friday, January 8th. HC Wainwright assumed coverage on shares of Euronav in a research note on Monday, March 29th. They issued a buy rating and a $13.00 price objective for the company. Finally, Oddo Bhf downgraded shares of Euronav from an outperform rating to a neutral rating in a research note on Thursday, April 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $12.10.

EURN opened at $8.37 on Monday. The firm has a market cap of $1.84 billion, a P/E ratio of 2.59 and a beta of 0.47. Euronav has a 12 month low of $7.20 and a 12 month high of $12.47. The company has a current ratio of 1.96, a quick ratio of 1.62 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $9.06 and a 200 day moving average of $8.52.

Euronav (NYSE:EURN) last released its quarterly earnings results on Thursday, February 4th. The shipping company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.05). The company had revenue of $111.50 million during the quarter, compared to analysts’ expectations of $122.79 million. Euronav had a return on equity of 27.32% and a net margin of 47.83%. On average, research analysts forecast that Euronav will post 2.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 5th. Stockholders of record on Thursday, February 25th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.73%. The ex-dividend date of this dividend was Wednesday, February 24th. Euronav’s dividend payout ratio is presently 14.55%.

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of Euronav during the fourth quarter valued at approximately $57,000. GFG Capital LLC bought a new position in Euronav in the fourth quarter worth approximately $80,000. Syquant Capital Sas bought a new position in Euronav in the fourth quarter worth approximately $83,000. Virtu Financial LLC bought a new position in Euronav in the fourth quarter worth approximately $88,000. Finally, Mutual Advisors LLC raised its stake in Euronav by 31.3% in the fourth quarter. Mutual Advisors LLC now owns 14,440 shares of the shipping company’s stock worth $116,000 after buying an additional 3,441 shares in the last quarter. 26.33% of the stock is owned by hedge funds and other institutional investors.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in the shipping and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 15, 2020, it owned and operated a fleet of 2 V-Plus vessels, 42 VLCCs, 26 Suezmaxes, and 2 FSO vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.

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Analyst Recommendations for Euronav (NYSE:EURN)

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