CMB.TECH (NYSE:CMBT) Shares Down 1.5% – Time to Sell?

CMB.TECH nv (NYSE:CMBT) was down 1.5% during trading on Wednesday . The stock traded as low as $15.30 and last traded at $15.35. Approximately 547,315 shares were traded during mid-day trading, a decline of 46% from the average session volume of 1,014,661 shares. The stock had previously closed at $15.59.

Wall Street Analysts Forecast Growth

CMBT has been the topic of a number of research reports. Wall Street Zen upgraded CMB.TECH from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Berenberg Bank raised shares of CMB.TECH to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy”.

CMB.TECH Price Performance

The stock’s 50 day moving average price is $15.25 and its two-hundred day moving average price is $13.67. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.95 and a quick ratio of 0.85. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 9.08 and a beta of 0.12.

CMB.TECH (NYSE:CMBT) last posted its earnings results on Tuesday, May 19th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $1.00. The business had revenue of $519.63 million for the quarter, compared to analyst estimates of $422.43 million. CMB.TECH had a net margin of 24.94% and a return on equity of 18.25%.

CMB.TECH Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 3rd were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. CMB.TECH’s dividend payout ratio (DPR) is currently 36.69%.

Hedge Funds Weigh In On CMB.TECH

A number of institutional investors have recently made changes to their positions in CMBT. Valley Wealth Managers Inc. bought a new stake in CMB.TECH during the 1st quarter valued at approximately $33,000. Mcguire Capital Advisors Inc. acquired a new stake in CMB.TECH in the 4th quarter valued at approximately $26,000. Raymond James Financial Inc. bought a new position in CMB.TECH in the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in CMB.TECH in the 4th quarter worth approximately $29,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of CMB.TECH during the third quarter worth approximately $45,000.

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.