Shares of Euronav (NYSE:EURN) fell 5.6% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $8.25 and last traded at $8.35. 759,167 shares traded hands during trading, an increase of 45% from the average session volume of 521,887 shares. The stock had previously closed at $8.85.
The shipping company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The company had revenue of $78.33 million during the quarter, compared to the consensus estimate of $89.58 million. Euronav had a net margin of 0.24% and a negative return on equity of 1.16%.
A number of brokerages have issued reports on EURN. JPMorgan Chase lifted their price target on shares of Euronav from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Friday, March 23rd. Zacks Investment Research downgraded shares of Euronav from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. TheStreet upgraded shares of Euronav from a “d+” rating to a “c” rating in a report on Thursday, January 25th. UBS lifted their price target on shares of Euronav from $8.75 to $9.25 and gave the company a “neutral” rating in a report on Friday, January 26th. Finally, DNB Markets upgraded shares of Euronav from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.29.
The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1,409.00, a price-to-earnings ratio of -94.44 and a beta of 0.54.
Euronav Company Profile
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean 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 August 23, 2017, it owned and operated a fleet of 56 double hulled vessels, including 30 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.
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