Zacks: Brokerages Expect Euronav NV (NYSE:EURN) Will Post Quarterly Sales of $412.17 Million

Analysts expect that Euronav NV (NYSE:EURN) will announce $412.17 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Euronav’s earnings, with estimates ranging from $403.21 million to $421.12 million. Euronav posted sales of $197.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 109.2%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 5th.

According to Zacks, analysts expect that Euronav will report full year sales of $1.06 billion for the current fiscal year, with estimates ranging from $1.03 billion to $1.09 billion. For the next financial year, analysts forecast that the company will post sales of $994.04 million, with estimates ranging from $892.43 million to $1.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Euronav.

Euronav (NYSE:EURN) last issued its quarterly earnings data on Thursday, January 30th. The shipping company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.07. Euronav had a net margin of 12.70% and a return on equity of 5.32%. The company had revenue of $320.27 million for the quarter, compared to the consensus estimate of $353.27 million.

A number of brokerages have commented on EURN. Evercore ISI reaffirmed a “buy” rating on shares of Euronav in a report on Sunday, February 2nd. ValuEngine cut shares of Euronav from a “sell” rating to a “strong sell” rating in a report on Friday, February 7th. Stifel Nicolaus raised shares of Euronav from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Zacks Investment Research raised shares of Euronav from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Friday, January 17th. Finally, TheStreet raised shares of Euronav from a “c” rating to a “b” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Euronav has a consensus rating of “Buy” and a consensus price target of $13.33.

EURN stock traded down $0.06 during midday trading on Friday, reaching $10.06. 1,504,737 shares of the company’s stock traded hands, compared to its average volume of 2,605,469. Euronav has a 52-week low of $7.21 and a 52-week high of $13.21. The stock has a market cap of $2.24 billion, a P/E ratio of 18.29 and a beta of 1.07. The company has a current ratio of 2.47, a quick ratio of 1.90 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $11.27 and its 200 day moving average is $10.21.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. M&G Investment Management Ltd. purchased a new stake in shares of Euronav in the fourth quarter worth $94,043,000. Thrivent Financial for Lutherans increased its stake in shares of Euronav by 9.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,863,010 shares of the shipping company’s stock worth $60,983,000 after purchasing an additional 399,778 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Euronav by 2.5% in the second quarter. Vanguard Group Inc. now owns 4,589,312 shares of the shipping company’s stock worth $43,324,000 after purchasing an additional 111,349 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Euronav by 197.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,104,086 shares of the shipping company’s stock worth $38,925,000 after purchasing an additional 2,058,960 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Euronav by 169.7% in the fourth quarter. Renaissance Technologies LLC now owns 3,062,674 shares of the shipping company’s stock worth $38,132,000 after purchasing an additional 1,927,262 shares in the last quarter. 32.78% of the stock is owned by hedge funds and other institutional investors.

Euronav Company Profile

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. As of December 12, 2018, it owned and operated a fleet of vessels, including 43 very large crude carriers, 2 ULCCs, 26 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 1 LR1s.

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