CMB.TECH (NYSE:CMBT) Reaches New 52-Week High – What’s Next?

Shares of CMB.TECH nv (NYSE:CMBT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $13.22 and last traded at $13.19, with a volume of 1899996 shares. The stock had previously closed at $12.85.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CMBT. Pareto Securities upgraded CMB.TECH to a “strong-buy” rating in a research note on Friday, November 28th. Weiss Ratings raised shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 14th. Finally, Wall Street Zen lowered shares of CMB.TECH from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, CMB.TECH has a consensus rating of “Buy”.

CMB.TECH Trading Up 2.6%

The company has a 50-day moving average of $11.13 and a 200-day moving average of $10.03. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.61 and a current ratio of 0.73.

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

CMB.TECH Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, January 7th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, January 7th. CMB.TECH’s dividend payout ratio is currently 8.54%.

Hedge Funds Weigh In On CMB.TECH

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of CMB.TECH during the second quarter valued at approximately $27,000. Public Employees Retirement System of Ohio acquired a new position in CMB.TECH during the 3rd quarter valued at approximately $45,000. Sunbelt Securities Inc. bought a new position in CMB.TECH during the 3rd quarter worth $56,000. Legal & General Group Plc increased its position in CMB.TECH by 221.3% in the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after buying an additional 4,497 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in CMB.TECH in the fourth quarter valued at $67,000.

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.