CMB.TECH (NYSE:CMBT) Hits New 52-Week High – Time to Buy?

CMB.TECH nv (NYSE:CMBT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $15.42 and last traded at $15.15, with a volume of 44491 shares trading hands. The stock had previously closed at $15.15.

Wall Street Analysts Forecast Growth

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

CMB.TECH Trading Down 1.6%

The business has a 50 day moving average of $13.18 and a two-hundred day moving average of $11.73. The company has a current ratio of 0.86, a quick ratio of 0.79 and a debt-to-equity ratio of 1.80. The firm has a market cap of $2.90 billion, a P/E ratio of 22.92 and a beta of 0.06.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings results on Friday, February 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). CMB.TECH had a net margin of 9.70% and a return on equity of 6.25%. The business had revenue of $589.12 million during the quarter, compared to the consensus estimate of $449.43 million.

CMB.TECH Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of CMB.TECH by 17.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company’s stock worth $2,252,000 after purchasing an additional 37,356 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of CMB.TECH by 3,978.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock worth $277,000 after purchasing an additional 29,998 shares in the last quarter. Legal & General Group Plc lifted its position in shares of CMB.TECH by 221.3% during the 2nd 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 last quarter. Raymond James Financial Inc. bought a new stake in shares of CMB.TECH during the 2nd quarter worth $27,000. Finally, Orion Porfolio Solutions LLC bought a new stake in shares of CMB.TECH during the 2nd quarter worth $98,000.

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.