CMB.TECH (NYSE:CMBT) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of CMB.TECH (NYSE:CMBT) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other research analysts also recently weighed in on the stock. Weiss Ratings raised shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 14th. Pareto Securities raised shares of CMB.TECH to a “strong-buy” rating in a research note on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

CMB.TECH Stock Up 0.9%

Shares of CMB.TECH stock opened at $13.04 on Friday. CMB.TECH has a 12-month low of $7.65 and a 12-month high of $13.16. The firm has a market capitalization of $2.51 billion, a PE ratio of 15.90 and a beta of -0.08. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 1.96. The stock’s fifty day moving average is $10.62 and its 200-day moving average is $9.73.

CMB.TECH (NYSE:CMBT) last released its quarterly earnings results on Wednesday, November 26th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). The company had revenue of $460.80 million during the quarter, compared to analyst estimates of $393.37 million. CMB.TECH had a net margin of 12.64% and a return on equity of 4.28%.

CMB.TECH Announces Dividend

The business also recently announced a special dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, January 7th were given a $0.05 dividend. The ex-dividend date was Wednesday, January 7th. CMB.TECH’s dividend payout ratio is presently 8.54%.

Hedge Funds Weigh In On CMB.TECH

A number of hedge funds have recently modified their holdings of CMBT. Folketrygdfondet purchased a new stake in shares of CMB.TECH during the third quarter worth $51,651,000. Vanguard Group Inc. raised its stake in shares of CMB.TECH by 3,042.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock worth $40,701,000 after purchasing an additional 4,107,637 shares in the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of CMB.TECH during the 3rd quarter worth about $22,386,000. Marshall Wace LLP acquired a new stake in shares of CMB.TECH during the 3rd quarter valued at about $17,428,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of CMB.TECH in the 3rd quarter valued at approximately $12,024,000.

About CMB.TECH

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.