Zacks Investment Research downgraded shares of Euronav NV (NASDAQ:EURN) from a buy rating to a hold rating in a research note published on Monday, July 3rd.
According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “
Several other brokerages have also recently issued reports on EURN. BidaskClub raised Euronav NV from a strong sell rating to a sell rating in a report on Friday, June 30th. ValuEngine cut Euronav NV from a buy rating to a hold rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $9.50.
Shares of Euronav NV (NASDAQ EURN) opened at 8.05 on Monday. The stock has a market capitalization of $1.27 billion and a price-to-earnings ratio of 10.20. Euronav NV has a one year low of $6.65 and a one year high of $9.51. The firm’s 50-day moving average is $7.67 and its 200-day moving average is $7.86.
Euronav NV (NASDAQ:EURN) last posted its quarterly earnings results on Wednesday, April 26th. The shipping company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $164.16 million during the quarter, compared to analyst estimates of $153.13 million. Equities research analysts forecast that Euronav NV will post $1.88 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in the company. Lingohr & Partner Asset Management GmbH boosted its position in Euronav NV by 25.8% in the first quarter. Lingohr & Partner Asset Management GmbH now owns 1,640,365 shares of the shipping company’s stock worth $12,959,000 after buying an additional 336,932 shares during the period. Parametric Portfolio Associates LLC boosted its position in Euronav NV by 88.2% in the first quarter. Parametric Portfolio Associates LLC now owns 28,265 shares of the shipping company’s stock worth $223,000 after buying an additional 13,247 shares during the period. Cedar Capital LLC boosted its position in Euronav NV by 81.3% in the first quarter. Cedar Capital LLC now owns 329,597 shares of the shipping company’s stock worth $2,604,000 after buying an additional 147,782 shares during the period. Yorktown Management & Research Co Inc bought a new position in Euronav NV during the first quarter worth $198,000. Finally, Swiss National Bank boosted its position in Euronav NV by 2.8% in the first quarter. Swiss National Bank now owns 209,883 shares of the shipping company’s stock worth $1,681,000 after buying an additional 5,691 shares during the period.
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