Euronav NV (NYSE:EURN) Receives $19.18 Consensus PT from Brokerages

Shares of Euronav NV (NYSE:EURN) have received an average recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.18.

EURN has been the subject of a number of research analyst reports. StockNews.com lowered shares of Euronav from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Jefferies Financial Group reissued a “hold” rating and issued a $18.00 price target on shares of Euronav in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Euronav from $17.86 to $21.70 and gave the stock a “neutral” rating in a research report on Friday, February 23rd.

Hedge Funds Weigh In On Euronav

A number of institutional investors have recently modified their holdings of EURN. Blue Trust Inc. bought a new position in shares of Euronav in the fourth quarter valued at approximately $29,000. Headlands Technologies LLC raised its position in shares of Euronav by 117.2% in the first quarter. Headlands Technologies LLC now owns 2,352 shares of the shipping company’s stock valued at $39,000 after purchasing an additional 1,269 shares during the period. Covestor Ltd raised its position in shares of Euronav by 177.1% in the third quarter. Covestor Ltd now owns 2,505 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 1,601 shares during the period. FourWorld Capital Management LLC bought a new position in shares of Euronav in the first quarter valued at approximately $67,000. Finally, Tucker Asset Management LLC bought a new position in shares of Euronav in the fourth quarter valued at approximately $79,000.

Euronav Price Performance

NYSE EURN opened at $15.82 on Tuesday. The company has a 50 day simple moving average of $17.08 and a 200-day simple moving average of $17.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.46 and a quick ratio of 1.41. Euronav has a 52-week low of $14.10 and a 52-week high of $21.26.

Euronav (NYSE:EURN) last posted its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The company had revenue of $203.46 million during the quarter, compared to analysts’ expectations of $195.96 million. Euronav had a return on equity of 23.36% and a net margin of 103.93%. Research analysts anticipate that Euronav will post 1.5 EPS for the current fiscal year.

Euronav Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 23rd were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 6.83%. The ex-dividend date of this dividend was Wednesday, May 22nd. Euronav’s payout ratio is presently 19.62%.

About Euronav

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.