Euronav NV (NYSE:EURN) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 2,790,000 shares, an increase of 6.5% from the January 15th total of 2,620,000 shares. Based on an average trading volume of 1,790,000 shares, the short-interest ratio is presently 1.6 days. Approximately 1.7% of the company’s shares are sold short.
NYSE:EURN opened at $10.06 on Friday. The stock has a market cap of $2.24 billion, a P/E ratio of 18.29 and a beta of 1.07. The firm’s fifty day simple moving average is $11.27 and its 200 day simple moving average is $10.21. Euronav has a twelve month low of $7.21 and a twelve month high of $13.21. The company has a quick ratio of 1.90, a current ratio of 2.47 and a debt-to-equity ratio of 0.64.
Euronav (NYSE:EURN) last released its quarterly earnings results on Thursday, January 30th. The shipping company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.07. The business had revenue of $320.27 million for the quarter, compared to analysts’ expectations of $353.27 million. Euronav had a net margin of 12.70% and a return on equity of 5.32%. On average, analysts expect that Euronav will post 1.88 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC lifted its position in Euronav by 7.4% during the fourth quarter. Quantitative Systematic Strategies LLC now owns 15,625 shares of the shipping company’s stock valued at $196,000 after buying an additional 1,083 shares during the period. Albert D Mason Inc. lifted its position in Euronav by 3.1% during the fourth quarter. Albert D Mason Inc. now owns 52,365 shares of the shipping company’s stock valued at $657,000 after buying an additional 1,590 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Euronav by 20.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,892 shares of the shipping company’s stock valued at $245,000 after buying an additional 3,370 shares during the period. Acadian Asset Management LLC purchased a new position in Euronav during the fourth quarter valued at $110,000. Finally, Swiss National Bank lifted its position in Euronav by 2.9% during the fourth quarter. Swiss National Bank now owns 336,947 shares of the shipping company’s stock valued at $4,151,000 after buying an additional 9,430 shares during the period. 32.78% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on the stock. Evercore ISI reiterated a “buy” rating on shares of Euronav in a report on Sunday, February 2nd. Zacks Investment Research upgraded shares of Euronav from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Friday, January 17th. TheStreet upgraded shares of Euronav from a “c” rating to a “b” rating in a report on Thursday, January 30th. Finally, ValuEngine cut shares of Euronav from a “sell” rating to a “strong sell” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.33.
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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