StockNews.com Begins Coverage on Euronav (NYSE:EURN)

StockNews.com started coverage on shares of Euronav (NYSE:EURN – Get Rating) in a research report sent to investors on Thursday. The brokerage issued a hold rating on the shipping company’s stock.

EURN has been the subject of a number of other reports. Oddo Bhf cut shares of Euronav from an outperform rating to a neutral rating and set a €24.20 ($26.02) target price for the company. in a report on Thursday, December 8th. Jonestrading raised shares of Euronav from a hold rating to a buy rating and set a $16.00 price objective for the company in a research note on Wednesday, January 11th. TheStreet raised shares of Euronav from a c+ rating to a b rating in a research note on Monday, February 6th. Deutsche Bank Aktiengesellschaft cut shares of Euronav from a buy rating to a hold rating and raised their price objective for the stock from $19.00 to $20.00 in a research note on Monday, March 6th. Finally, Jefferies Financial Group raised their price objective on shares of Euronav from $21.00 to $24.00 and gave the stock a buy rating in a research note on Monday, February 27th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $20.24.

Euronav Trading Up 0.2 %

Shares of Euronav stock opened at $16.42 on Thursday. Euronav has a 12-month low of $9.78 and a 12-month high of $21.00. The company has a current ratio of 2.06, a quick ratio of 1.92 and a debt-to-equity ratio of 0.69. The stock has a market cap of $3.31 billion, a PE ratio of 16.26 and a beta of 0.23. The company has a 50-day moving average of $16.56 and a two-hundred day moving average of $17.30.

Euronav (NYSE:EURN – Get Rating) last issued its earnings results on Thursday, February 2nd. The shipping company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.36. Euronav had a net margin of 23.67% and a return on equity of 9.65%. The company had revenue of $322.93 million during the quarter, compared to analysts’ expectations of $362.95 million. On average, research analysts anticipate that Euronav will post 1.94 EPS for the current fiscal year.

Euronav Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, March 2nd. Investors of record on Wednesday, February 22nd were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 21st. This represents a yield of 0.74%.

Institutional Trading of Euronav

A number of hedge funds have recently bought and sold shares of EURN. Norges Bank acquired a new stake in Euronav during the fourth quarter worth approximately $91,843,000. Barclays PLC boosted its position in Euronav by 299.9% during the third quarter. Barclays PLC now owns 4,944,085 shares of the shipping company’s stock worth $76,089,000 after acquiring an additional 3,707,636 shares during the last quarter. Versor Investments LP acquired a new stake in Euronav during the third quarter worth approximately $29,721,000. Alpine Associates Management Inc. acquired a new stake in Euronav during the fourth quarter worth approximately $23,042,000. Finally, JPMorgan Chase & Co. acquired a new stake in Euronav during the first quarter worth approximately $11,717,000. Institutional investors and hedge funds own 68.04% of the company’s stock.

About Euronav

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Euronav NV engages in the ocean transportation and storage of crude oil. The firm operates through the following segments: Operation of crude oil tankers on the international markets (Tankers) and Floating Production, Storage and Offloading Operations (FSO/FPSO). The Tankers segment provides shipping services for crude oil seaborne transportation.