Initial coverage for Euronav was presented by the research team at StockNews.com in a report published on Thursday and made available to the general public (NYSE: EURN).
The corporation advised shareholders to “keep” their position in the transportation company’s stock and not sell any of their shares.
On Thursday, February 2nd, Euronav (NYSE: EURN) shared its most recent quarterly results report with the investing community.
The shipping company reported $1.16 per share for the period, which was $0.36 more than the average forecast of $0.80 per share.
The revenue for the quarter came in at $322.93 million, significantly lower than the $362.95 million analysts had anticipated.
Euronav successfully obtained a net margin of 23.67 percent while achieving an equity return of 9.65 percent.
According to projections made by sell-side analysts, Euronav will bring in $1.94 per share in 2018.
Thursday was NYSE’s first day: EURN was available for trading, and the opening price was $16.70.
The company’s moving average price over the previous 50 days is $16.53, and the moving average price over the previous 200 days is $17.30.
The company has a price-to-earnings ratio of 16.53, a beta value of 0.23, and a market capitalization of $3.37 billion.
The debt-to-equity ratio stands at 0.69, the quick ratio at 1.92, and the current ratio at 2.06. Over the previous year, $21.00 was the highest and lowest rate Euronav offered.
Additionally, the points of view of several different research organizations have been presented about EURN.
In a research note published on January 10th, Stifel Nicolaus downgraded the company from a “buy” rating to a “hold” rating and lowered their price target for Euronav from $20.00 to $17.00.
The note also stated that the firm no longer recommends purchasing the company’s stock.
In a research note published on March 6th, Deutsche Bank Aktiengesellschaft shifted their rating for the company from “buy” to “hold” and increased their price objective for Euronav from $19.00 to $20.00.
Additionally, the price objective for Euronav was raised from $19.00 to $20.00.
TheStreet upgraded its rating for Euronav shares from “c+” to “b” within a research report made available to the general public on February 6th.
In a research note published on Monday, February 27th, Jefferies Financial Group raised their “buy” rating for Euronav and their price objective on the stock from $21.00 to $24.00.
Additionally, they raised their price objective on the stock from $21.00 to $24.00. JonesTrading upgraded shares of Euronav from a “hold” rating to a “buy” rating and set a price target for the company of $16.00 in a research note published on Wednesday, January 11th.
The stock has been rated “hold” by five equity research professionals and “buy” by two of the same professionals who evaluated the stock.
According to Bloomberg, the general opinion regarding the company is that investors should “hold” their shares and that the price target has been established at $20.24.
Recent events have resulted in institutional investors adjusting the percentages of ownership they formerly held in the company.
During the second quarter, PDT Partners LLC increased its holdings in Euronav by 2,600,000 shares by purchasing an additional 1,390,000 of the company’s shares.
During the company’s fiscal third quarter, Power Corp. of Canada increased its stake in Euronav by purchasing an additional share, bringing the total investment to approximately $864,000.
During the third quarter of the fiscal year, Optiver Holding B.V.
Brought its total ownership of Euronav to a level that was 2,396.5% higher. Optiver Holding B.V. now has 110,346 shares of the shipping company’s stock, currently valued at $1,736,000, following the acquisition of an additional 105,926 shares during the most recent quarter.
During the third quarter, Gabelli & Co Investment Advisers, INC purchased a new stake in shares of Euronav that was valued at approximately $1,902,000.
Last but not least, during the third quarter, Wintons Group established a new position in Euronav shares.
The new investment is valued at approximately $376,000 at this time.
Institutional investors own approximately 68.04% of the total shares outstanding in the company.
Both the warehousing of crude oil and the transportation of crude oil via sea are activities carried out by Euronav NV.
The company’s operations can be categorized into a floating production, storage, and offloading activities (FSO/FPSO) and international crude oil tanker operations.
The Tankers division is responsible for providing various services associated with the shipment of crude oil via water.