Euronav (NYSE:EURN) Shares Gap Down to $12.55

Euronav NV (NYSE:EURN – Get Rating)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $12.55, but opened at $12.22. Euronav shares last traded at $12.26, with a volume of 23,463 shares changing hands.

Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Euronav in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Zacks Investment Research cut shares of Euronav from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Euronav has a consensus rating of “Hold” and an average target price of $12.00.

The firm’s 50-day moving average is $11.03 and its two-hundred day moving average is $10.04. The company has a market cap of $2.45 billion, a P/E ratio of -7.47 and a beta of 0.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.42 and a quick ratio of 1.21.

Euronav (NYSE:EURN – Get Rating) last announced its quarterly earnings results on Thursday, February 3rd. The shipping company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.03. Euronav had a negative net margin of 77.54% and a negative return on equity of 16.42%. The company had revenue of $85.34 million for the quarter, compared to analysts’ expectations of $104.58 million. As a group, sell-side analysts expect that Euronav NV will post 0.26 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Samalin Investment Counsel LLC purchased a new stake in shares of Euronav during the fourth quarter valued at $40,000. Wells Fargo & Company MN boosted its stake in shares of Euronav by 47.5% during the fourth quarter. Wells Fargo & Company MN now owns 7,701 shares of the shipping company’s stock valued at $69,000 after purchasing an additional 2,481 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Euronav during the fourth quarter valued at $131,000. FNY Investment Advisers LLC purchased a new stake in shares of Euronav during the fourth quarter valued at $142,000. Finally, Virtu Financial LLC purchased a new stake in shares of Euronav during the fourth quarter valued at $164,000. Institutional investors and hedge funds own 36.71% of the company’s stock.

Euronav Company Profile (NYSE:EURN)

Euronav NV, together with its subsidiaries, engages in the ocean transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2021, it owned and operated a fleet of 77 vessels, including 10 chartered-in vessels with an aggregate carrying capacity of approximately 19.5 million deadweight tons consisting of 45 very large crude carriers, two V-plus, 28 Suezmax vessels, and two floating, storage, and offloading vessels.

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