Euronav NV (NYSE:EURN) Expected to Announce Earnings of $0.91 Per Share

Wall Street brokerages forecast that Euronav NV (NYSE:EURN) will report earnings of $0.91 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Euronav’s earnings, with estimates ranging from $0.77 to $1.09. Euronav reported earnings of $0.09 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 911.1%. The firm is scheduled to issue its next earnings report on Tuesday, May 5th.

On average, analysts expect that Euronav will report full year earnings of $2.36 per share for the current financial year, with EPS estimates ranging from $1.64 to $3.38. For the next year, analysts forecast that the business will report earnings of $1.56 per share, with EPS estimates ranging from $0.98 to $2.18. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Euronav.

Euronav (NYSE:EURN) last posted its quarterly earnings results on Thursday, January 30th. The shipping company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.07. Euronav had a return on equity of 5.32% and a net margin of 12.70%. The firm had revenue of $320.27 million for the quarter, compared to the consensus estimate of $353.27 million.

A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Euronav from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Friday, January 17th. ValuEngine upgraded Euronav from a “sell” rating to a “hold” rating in a research report on Tuesday. Evercore ISI reiterated a “buy” rating on shares of Euronav in a research report on Sunday, February 2nd. TheStreet upgraded Euronav from a “c” rating to a “b” rating in a research report on Thursday, January 30th. Finally, DNB Markets downgraded Euronav from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.50.

Euronav stock opened at $10.36 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.47 and a quick ratio of 1.90. Euronav has a 1-year low of $7.21 and a 1-year high of $13.21. The company has a market cap of $2.10 billion, a PE ratio of 18.84 and a beta of 1.03. The stock’s 50 day moving average price is $9.42 and its 200 day moving average price is $10.48.

A number of institutional investors and hedge funds have recently bought and sold shares of EURN. Barclays PLC boosted its position in Euronav by 1,015.6% during the third quarter. Barclays PLC now owns 544,890 shares of the shipping company’s stock worth $5,013,000 after purchasing an additional 496,046 shares in the last quarter. Millennium Management LLC boosted its position in Euronav by 3,562.3% during the third quarter. Millennium Management LLC now owns 366,230 shares of the shipping company’s stock worth $3,369,000 after purchasing an additional 356,230 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in Euronav during the fourth quarter worth $614,000. Tocqueville Asset Management L.P. purchased a new stake in Euronav during the fourth quarter worth $502,000. Finally, Sciencast Management LP purchased a new stake in Euronav during the fourth quarter worth $220,000. Institutional investors own 37.87% of the company’s stock.

About Euronav

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.

See Also: Google Finance

Get a free copy of the Zacks research report on Euronav (EURN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Euronav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Euronav and related companies with MarketBeat.com's FREE daily email newsletter.