Euronav NV (NYSE:EURN) Expected to Post Earnings of -$0.19 Per Share

Brokerages expect that Euronav NV (NYSE:EURN) will announce earnings per share (EPS) of ($0.19) for the current quarter, according to Zacks. Two analysts have made estimates for Euronav’s earnings, with the highest EPS estimate coming in at ($0.15) and the lowest estimate coming in at ($0.22). Euronav reported earnings of ($0.28) per share in the same quarter last year, which suggests a positive year over year growth rate of 32.1%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, August 8th.

According to Zacks, analysts expect that Euronav will report full-year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.25) to ($0.06). For the next fiscal year, analysts anticipate that the firm will report earnings of $0.77 per share, with EPS estimates ranging from $0.46 to $1.27. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Euronav.

Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of Euronav from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Evercore ISI restated a “buy” rating and issued a $16.00 target price on shares of Euronav in a report on Monday. Finally, Zacks Investment Research upgraded shares of Euronav from a “sell” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $11.83.

Several institutional investors have recently added to or reduced their stakes in EURN. Norges Bank bought a new stake in shares of Euronav in the 4th quarter worth about $30,706,000. Renaissance Technologies LLC lifted its holdings in shares of Euronav by 249.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,615,704 shares of the shipping company’s stock worth $15,202,000 after acquiring an additional 1,153,365 shares during the last quarter. Marshall Wace LLP lifted its holdings in Euronav by 332.7% during the 2nd quarter. Marshall Wace LLP now owns 692,522 shares of the shipping company’s stock valued at $6,513,000 after buying an additional 532,473 shares in the last quarter. Bank of America Corp DE lifted its holdings in Euronav by 3,965.8% during the 4th quarter. Bank of America Corp DE now owns 475,576 shares of the shipping company’s stock valued at $3,296,000 after buying an additional 463,879 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Euronav by 29.8% during the 4th quarter. Deutsche Bank AG now owns 1,987,696 shares of the shipping company’s stock valued at $13,773,000 after buying an additional 456,406 shares in the last quarter. Hedge funds and other institutional investors own 29.93% of the company’s stock.

Shares of NYSE:EURN traded up $0.31 on Friday, reaching $7.56. The company’s stock had a trading volume of 429,794 shares, compared to its average volume of 397,938. Euronav has a 52-week low of $6.77 and a 52-week high of $10.22. The company has a market cap of $1.68 billion, a P/E ratio of -11.63 and a beta of 0.96. The company has a 50-day simple moving average of $8.63 and a 200 day simple moving average of $8.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.19 and a current ratio of 1.53.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in the 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 December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.

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Earnings History and Estimates for Euronav (NYSE:EURN)

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