CMB.TECH (NYSE:CMBT) Releases Quarterly Earnings Results, Beats Estimates By $1.00 EPS

CMB.TECH (NYSE:CMBT) released its quarterly earnings results on Tuesday. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.27 by $1.00, FiscalAI reports. The business had revenue of $519.63 million during the quarter, compared to analyst estimates of $422.43 million. CMB.TECH had a net margin of 9.70% and a return on equity of 6.25%.

CMB.TECH Stock Performance

Shares of CMBT opened at $15.09 on Tuesday. The firm has a 50-day moving average price of $13.24 and a 200 day moving average price of $11.89. The firm has a market capitalization of $2.98 billion, a PE ratio of 23.22 and a beta of 0.06. The company has a quick ratio of 0.79, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. CMB.TECH has a 52-week low of $7.78 and a 52-week high of $15.57.

CMB.TECH Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 15th were given a $0.16 dividend. The ex-dividend date was Wednesday, April 15th. CMB.TECH’s dividend payout ratio is currently 27.69%.

Hedge Funds Weigh In On CMB.TECH

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mcguire Capital Advisors Inc. bought a new position in CMB.TECH in the 4th quarter valued at about $26,000. Raymond James Financial Inc. bought a new position in CMB.TECH in the 2nd quarter valued at about $27,000. Public Employees Retirement System of Ohio bought a new position in CMB.TECH in the 3rd quarter valued at about $45,000. Sunbelt Securities Inc. bought a new position in CMB.TECH in the 3rd quarter valued at about $56,000. Finally, Legal & General Group Plc grew its position in CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock valued at $59,000 after buying an additional 4,497 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CMBT shares. Wall Street Zen upgraded shares of CMB.TECH from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th. Berenberg Bank upgraded shares of CMB.TECH to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of CMB.TECH from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy”.

CMB.TECH Company Profile

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.