Euronav (NYSE:EURN) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Euronav (NYSE:EURNGet Rating) from a buy rating to a hold rating in a report published on Tuesday morning, Zacks.com reports.

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. “

Separately, StockNews.com began coverage on Euronav in a research report on Thursday, March 31st. They set a sell rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Euronav presently has a consensus rating of Hold and an average price target of $12.00.

Euronav stock opened at $12.79 on Tuesday. The stock has a 50-day moving average price of $10.75 and a 200 day moving average price of $9.95. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -7.61 and a beta of 0.17. Euronav has a 52 week low of $7.55 and a 52 week high of $13.24. The company has a quick ratio of 1.21, a current ratio of 1.42 and a debt-to-equity ratio of 0.75.

Euronav (NYSE:EURNGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The shipping company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.03. The business had revenue of $85.34 million during the quarter, compared to analysts’ expectations of $104.58 million. Euronav had a negative net margin of 77.54% and a negative return on equity of 16.42%. Research analysts anticipate that Euronav will post 0.26 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Euronav in the fourth quarter valued at $42,442,000. BlackRock Inc. increased its stake in shares of Euronav by 16.3% in the 4th quarter. BlackRock Inc. now owns 712,227 shares of the shipping company’s stock valued at $6,331,000 after purchasing an additional 99,611 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Euronav by 47.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,701 shares of the shipping company’s stock worth $69,000 after purchasing an additional 2,481 shares during the period. Virtu Financial LLC purchased a new position in Euronav during the fourth quarter worth approximately $164,000. Finally, Parametric Portfolio Associates LLC grew its holdings in Euronav by 13.0% in the fourth quarter. Parametric Portfolio Associates LLC now owns 65,113 shares of the shipping company’s stock valued at $579,000 after purchasing an additional 7,470 shares during the period. 36.71% of the stock is currently owned by hedge funds and other institutional investors.

Euronav Company Profile (Get Rating)

Euronav NV, together with its subsidiaries, engages in the ocean transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2021, it owned and operated a fleet of 77 vessels, including 10 chartered-in vessels with an aggregate carrying capacity of approximately 19.5 million deadweight tons consisting of 45 very large crude carriers, two V-plus, 28 Suezmax vessels, and two floating, storage, and offloading vessels.

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