$91.43 Million in Sales Expected for Euronav NV (NYSE:EURN) This Quarter

Brokerages forecast that Euronav NV (NYSE:EURN) will announce sales of $91.43 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Euronav’s earnings. The highest sales estimate is $101.08 million and the lowest is $80.20 million. Euronav posted sales of $383.99 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 76.2%. The company is scheduled to announce its next quarterly earnings results on Thursday, May 6th.

According to Zacks, analysts expect that Euronav will report full-year sales of $582.21 million for the current financial year, with estimates ranging from $450.60 million to $680.04 million. For the next year, analysts expect that the firm will report sales of $816.27 million, with estimates ranging from $726.10 million to $884.66 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Euronav.

Euronav (NYSE:EURN) last released its quarterly earnings results on Thursday, February 4th. The shipping company reported ($0.29) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.05). Euronav had a net margin of 47.83% and a return on equity of 27.32%. The firm had revenue of $111.50 million for the quarter, compared to the consensus estimate of $122.79 million.

EURN has been the topic of several analyst reports. TheStreet downgraded Euronav from a “b-” rating to a “c+” rating in a report on Monday, February 8th. BTIG Research raised Euronav from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, January 8th. Zacks Investment Research downgraded Euronav from a “hold” rating to a “strong sell” rating in a report on Tuesday. Oddo Bhf downgraded Euronav from an “outperform” rating to a “neutral” rating in a report on Thursday, April 1st. Finally, HC Wainwright started coverage on Euronav in a report on Monday, March 29th. They issued a “buy” rating and a $13.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Euronav has a consensus rating of “Buy” and an average price target of $12.10.

Euronav stock traded down $0.13 during mid-day trading on Monday, hitting $9.05. The company had a trading volume of 38,266 shares, compared to its average volume of 1,493,980. The company has a current ratio of 1.96, a quick ratio of 1.62 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $9.17 and its two-hundred day moving average price is $8.54. Euronav has a 12 month low of $7.20 and a 12 month high of $12.47. The company has a market capitalization of $1.99 billion, a PE ratio of 2.80 and a beta of 0.47.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 5th. Investors of record on Thursday, February 25th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend was Wednesday, February 24th. Euronav’s dividend payout ratio (DPR) is presently 14.55%.

A number of institutional investors have recently bought and sold shares of EURN. Norges Bank purchased a new stake in Euronav in the fourth quarter worth about $43,639,000. Renaissance Technologies LLC increased its position in Euronav by 19.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,193,800 shares of the shipping company’s stock worth $17,550,000 after buying an additional 364,500 shares in the last quarter. Donald Smith & CO. Inc. increased its position in Euronav by 555.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 2,040,503 shares of the shipping company’s stock worth $16,324,000 after buying an additional 1,729,053 shares in the last quarter. Bank of New York Mellon Corp increased its position in Euronav by 417.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,969,471 shares of the shipping company’s stock worth $15,756,000 after buying an additional 1,588,688 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Euronav by 152.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,876,324 shares of the shipping company’s stock worth $15,009,000 after buying an additional 1,133,704 shares in the last quarter. Institutional investors own 26.33% of the company’s stock.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in the shipping and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 15, 2020, it owned and operated a fleet of 2 V-Plus vessels, 42 VLCCs, 26 Suezmaxes, and 2 FSO vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.

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