Euronav (EURN) Price Target Raised to $9.00

Euronav (NYSE:EURN) had its price target hoisted by JPMorgan Chase & Co. from $8.50 to $9.00 in a research note issued to investors on Friday. The brokerage currently has a neutral rating on the shipping company’s stock.

A number of other research analysts also recently weighed in on the company. Morgan Stanley raised Euronav from an equal weight rating to an overweight rating and set a $10.00 target price on the stock in a report on Monday, February 12th. Zacks Investment Research downgraded Euronav from a hold rating to a sell rating in a report on Tuesday, January 23rd. Stifel Nicolaus set a $9.00 target price on Euronav and gave the company a hold rating in a report on Friday, December 22nd. Deutsche Bank set a $10.00 target price on Euronav and gave the company a buy rating in a report on Thursday, December 21st. Finally, DNB Markets raised Euronav from a hold rating to a buy rating in a report on Tuesday, March 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $9.29.

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Euronav (NYSE:EURN) opened at $8.35 on Friday. Euronav has a 1-year low of $6.90 and a 1-year high of $9.65.

Euronav (NYSE:EURN) last posted its earnings results on Thursday, January 25th. The shipping company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. Euronav had a negative return on equity of 1.16% and a net margin of 0.24%. The company had revenue of $119.00 million for the quarter, compared to the consensus estimate of $121.46 million. analysts forecast that Euronav will post -0.64 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Group LLC bought a new position in shares of Euronav in the fourth quarter worth about $163,000. Macquarie Group Ltd. bought a new position in shares of Euronav in the fourth quarter worth about $190,000. Impala Asset Management LLC bought a new position in shares of Euronav in the fourth quarter worth about $687,000. Dimensional Fund Advisors LP raised its stake in shares of Euronav by 20.3% in the third quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock worth $773,000 after buying an additional 16,120 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Euronav in the fourth quarter worth about $894,000. 22.87% of the stock is currently owned by hedge funds and other institutional investors.

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About Euronav

Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.

Analyst Recommendations for Euronav (NYSE:EURN)

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