Euronav NV (NYSE:EURN) – Equities researchers at Jefferies Financial Group upped their Q3 2018 EPS estimates for Euronav in a research note issued on Monday, October 29th, according to Zacks Investment Research. Jefferies Financial Group analyst R. Giveans now forecasts that the shipping company will earn ($0.27) per share for the quarter, up from their previous estimate of ($0.32). Jefferies Financial Group currently has a “Buy” rating and a $11.00 target price on the stock. Jefferies Financial Group also issued estimates for Euronav’s Q4 2018 earnings at $0.05 EPS, FY2018 earnings at ($0.77) EPS and FY2019 earnings at $0.07 EPS.
A number of other analysts also recently issued reports on EURN. Zacks Investment Research downgraded shares of Euronav from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. ValuEngine downgraded shares of Euronav from a “strong-buy” rating to a “buy” rating in a report on Monday, November 12th. Pareto Securities raised shares of Euronav from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Wells Fargo & Co lowered their price target on shares of Euronav from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Euronav from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $10.31.
Shares of NYSE EURN traded up $0.29 during mid-day trading on Wednesday, reaching $8.42. 398,794 shares of the company were exchanged, compared to its average volume of 875,464. Euronav has a 52 week low of $7.50 and a 52 week high of $10.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.49 and a current ratio of 1.51. The company has a market capitalization of $1.29 billion, a P/E ratio of -93.56 and a beta of 0.35.
Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Euronav by 24.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 179,600 shares of the shipping company’s stock worth $1,652,000 after acquiring an additional 34,941 shares during the last quarter. Swiss National Bank grew its holdings in shares of Euronav by 26.0% during the 2nd quarter. Swiss National Bank now owns 280,554 shares of the shipping company’s stock worth $2,569,000 after purchasing an additional 57,885 shares during the period. Marshall Wace LLP lifted its position in Euronav by 1,778.4% during the 2nd quarter. Marshall Wace LLP now owns 987,658 shares of the shipping company’s stock worth $9,077,000 after acquiring an additional 935,077 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Euronav during the 2nd quarter worth approximately $52,471,000. Finally, Renaissance Technologies LLC acquired a new position in Euronav during the 2nd quarter worth approximately $1,316,000. Institutional investors and hedge funds own 43.03% of the company’s stock.
Euronav NV, together with its subsidiaries, engages in 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 March 19, 2018, it owned and operated a fleet of 53 vessels, including 28 very large crude carriers, 1 V-Plus vessel, 22 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.
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