CMB.TECH (NYSE:CMBT) Upgraded at Berenberg Bank

Berenberg Bank upgraded shares of CMB.TECH (NYSE:CMBT) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on CMBT. Wall Street Zen upgraded CMB.TECH from a “sell” rating to a “hold” rating in a research report on Sunday, April 12th. Weiss Ratings upgraded CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, CMB.TECH has a consensus rating of “Buy”.

CMB.TECH Stock Performance

NYSE CMBT opened at $12.84 on Wednesday. CMB.TECH has a 52-week low of $7.78 and a 52-week high of $14.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.79 and a current ratio of 0.86. The company has a market capitalization of $2.57 billion, a P/E ratio of 19.76 and a beta of -0.03. The company has a fifty day moving average of $13.10 and a 200-day moving average of $11.36.

CMB.TECH (NYSE:CMBT) last released its quarterly earnings results on Friday, February 27th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). CMB.TECH had a net margin of 9.70% and a return on equity of 6.25%. The firm had revenue of $589.12 million for the quarter, compared to analysts’ expectations of $449.43 million.

CMB.TECH Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 15th were given a $0.16 dividend. The ex-dividend date was Wednesday, April 15th. CMB.TECH’s dividend payout ratio (DPR) is presently 27.69%.

Hedge Funds Weigh In On CMB.TECH

A number of large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC raised its position in CMB.TECH by 3.0% in the 4th quarter. Headlands Technologies LLC now owns 67,058 shares of the company’s stock worth $647,000 after purchasing an additional 1,957 shares during the period. Mariner LLC raised its position in CMB.TECH by 4.0% in the 4th quarter. Mariner LLC now owns 63,372 shares of the company’s stock worth $612,000 after purchasing an additional 2,439 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in CMB.TECH in the 4th quarter worth $26,000. Raymond James Financial Inc. purchased a new position in CMB.TECH in the 2nd quarter worth $27,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in CMB.TECH in the 4th quarter worth $29,000.

About CMB.TECH

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.