Brokerages Expect Euronav NV (NYSE:EURN) Will Post Quarterly Sales of $126.43 Million

Equities analysts forecast that Euronav NV (NYSE:EURNGet Rating) will post $126.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Euronav’s earnings, with the highest sales estimate coming in at $147.34 million and the lowest estimate coming in at $103.30 million. Euronav reported sales of $74.66 million during the same quarter last year, which would suggest a positive year over year growth rate of 69.3%. The business is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Euronav will report full year sales of $712.98 million for the current fiscal year, with estimates ranging from $537.13 million to $1.05 billion. For the next year, analysts anticipate that the business will report sales of $1.06 billion, with estimates ranging from $727.72 million to $1.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Euronav.

EURN has been the subject of a number of recent research reports. Jefferies Financial Group cut Euronav from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $13.00 to $12.00 in a research report on Wednesday, April 27th. StockNews.com assumed coverage on Euronav in a report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, Zacks Investment Research cut Euronav from a “buy” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.67.

Euronav stock opened at $11.69 on Friday. The stock has a market cap of $2.36 billion, a PE ratio of -7.59 and a beta of 0.08. The stock has a 50-day moving average price of $11.40 and a 200 day moving average price of $10.20. Euronav has a 52 week low of $7.55 and a 52 week high of $13.24. The company has a current ratio of 1.92, a quick ratio of 1.67 and a debt-to-equity ratio of 0.80.

Large investors have recently modified their holdings of the company. Samalin Investment Counsel LLC purchased a new stake in shares of Euronav during the 4th quarter worth about $40,000. Wells Fargo & Company MN grew its holdings in shares of Euronav by 47.5% during 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. Fifth Third Bancorp grew its holdings in shares of Euronav by 38.9% during the 1st quarter. Fifth Third Bancorp now owns 11,898 shares of the shipping company’s stock worth $126,000 after purchasing an additional 3,335 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Euronav during the 1st quarter worth about $133,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Euronav during the 4th quarter worth about $131,000. Institutional investors and hedge funds own 45.67% of the company’s stock.

Euronav Company Profile (Get Rating)

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company also offers floating, storage, and offloading (FSO) services. As of April 1, 2022, it owned and operated a fleet of 72 vessels, including 6 chartered-in vessels with an aggregate carrying capacity of approximately 18.5 million deadweight tons consisting of 41 very large crude carriers, 2 V-plus, 27 Suezmax vessels, and 2 FSO vessels.

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