Analysts Set Euronav NV (NYSE:EURN) Price Target at $14.00

Euronav NV (NYSE:EURNGet Rating) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $14.00.

EURN has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on Euronav in a research report on Wednesday, July 20th. They set a “hold” rating and a $14.00 price target on the stock. Stifel Nicolaus increased their price target on Euronav from $14.00 to $15.00 in a research report on Tuesday, July 19th.

Institutional Investors Weigh In On Euronav

Large investors have recently modified their holdings of the business. Samalin Investment Counsel LLC acquired a new stake in shares of Euronav in the 4th quarter valued at $40,000. Seven Eight Capital LP bought a new position in shares of Euronav in the 2nd quarter valued at $140,000. Fifth Third Bancorp lifted its stake in shares of Euronav by 38.9% in the 1st quarter. Fifth Third Bancorp now owns 11,898 shares of the shipping company’s stock valued at $126,000 after acquiring an additional 3,335 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Euronav in the 1st quarter valued at $133,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Euronav in the 4th quarter valued at $142,000. Institutional investors and hedge funds own 45.67% of the company’s stock.

Euronav Price Performance

Shares of NYSE EURN opened at $14.47 on Wednesday. The firm has a market cap of $2.92 billion, a P/E ratio of -9.40 and a beta of 0.19. The company has a current ratio of 1.92, a quick ratio of 1.67 and a debt-to-equity ratio of 0.80. Euronav has a 1-year low of $7.55 and a 1-year high of $14.94. The business’s 50 day moving average is $12.65 and its 200-day moving average is $11.47.

Euronav (NYSE:EURNGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The shipping company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.01. The business had revenue of $85.85 million for the quarter, compared to the consensus estimate of $87.57 million. Euronav had a negative return on equity of 16.21% and a negative net margin of 70.67%. Equities research analysts predict that Euronav will post 0.32 earnings per share for the current year.

Euronav Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 8th. Shareholders of record on Tuesday, May 31st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, May 27th. This is an increase from Euronav’s previous quarterly dividend of $0.02. Euronav’s dividend payout ratio (DPR) is currently -2.60%.

Euronav Company Profile

(Get Rating)

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2022, it owned and operated a fleet of 72 vessels, including 6 chartered-in vessels with an aggregate carrying capacity of approximately 18.5 million deadweight tons consisting of 41 very large crude carriers, 2 V-plus, 27 Suezmax vessels, and 2 FSO vessels.

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