StockNews.com Upgrades Euronav (NYSE:EURN) to “Buy”

Posted by Defense World Staff on Jul 19th, 2023

Euronav (NYSE:EURN – Get Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also issued reports on the company. Stifel Nicolaus decreased their price target on Euronav from $22.00 to $20.00 in a research note on Monday, July 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $24.00 target price on shares of Euronav in a research note on Tuesday, March 21st. DNB Markets upped their price target on shares of Euronav from $20.50 to $23.00 in a report on Tuesday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Euronav from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Euronav has an average rating of “Moderate Buy” and an average price target of $21.20.

Euronav Trading Down 0.9 %

Shares of EURN stock opened at $15.04 on Wednesday. The firm has a market capitalization of $3.03 billion, a PE ratio of 7.20 and a beta of 0.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.05 and a current ratio of 2.21. Euronav has a 1 year low of $12.76 and a 1 year high of $21.00. The stock has a fifty day moving average of $15.78 and a two-hundred day moving average of $16.35.

Euronav (NYSE:EURN – Get Free Report) last posted its quarterly earnings data on Thursday, May 11th. The shipping company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). The company had revenue of $305.14 million during the quarter, compared to analyst estimates of $306.55 million. Euronav had a return on equity of 19.29% and a net margin of 39.00%. As a group, research analysts expect that Euronav will post 2.63 EPS for the current year.

Hedge Funds Weigh In On Euronav

Institutional investors and hedge funds have recently bought and sold shares of the business. RFP Financial Group LLC acquired a new position in shares of Euronav in the fourth quarter worth $51,000. Advisor Group Holdings Inc. grew its stake in shares of Euronav by 240.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,580 shares of the shipping company’s stock valued at $78,000 after buying an additional 3,234 shares in the last quarter. BlackRock Inc. raised its position in Euronav by 43.8% during the third quarter. BlackRock Inc. now owns 5,160 shares of the shipping company’s stock valued at $80,000 after acquiring an additional 1,572 shares in the last quarter. Sciencast Management LP acquired a new stake in Euronav in the second quarter valued at approximately $154,000. Finally, First Trust Advisors LP acquired a new position in shares of Euronav during the 3rd quarter worth $163,000. Hedge funds and other institutional investors own 71.63% of the company’s stock.

About Euronav

(Get Free Report)

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.

StockNews.com Upgrades Euronav (NYSE:EURN) to “Buy”

Euronav Trading Down 0.9 %

Hedge Funds Weigh In On Euronav

About Euronav

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