Euronav (EURN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Euronav (NYSE:EURN) from a buy rating to a hold rating in a report published on Thursday.

According to Zacks, “Euronav is a tanker company. It owns, operates and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products. The company also offers ship management services. It operates primarily in Europe and Asia. Euronav is headquartered in Antwerp, Belgium. “

EURN has been the subject of a number of other reports. TheStreet downgraded Euronav from a c- rating to a d+ rating in a research report on Friday, December 21st. BTIG Research started coverage on Euronav in a research report on Thursday, September 27th. They set a buy rating and a $12.00 target price for the company. Jefferies Financial Group started coverage on Euronav in a research report on Monday, October 1st. They set a buy rating and a $11.00 target price for the company. ValuEngine upgraded Euronav from a buy rating to a strong-buy rating in a research report on Friday, November 30th. Finally, DNB Markets downgraded Euronav from a buy rating to a hold rating in a research report on Friday, November 30th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Euronav presently has a consensus rating of Buy and a consensus price target of $10.25.

EURN opened at $7.67 on Thursday. The firm has a market capitalization of $1.25 billion, a P/E ratio of -85.22 and a beta of 0.68. Euronav has a 1 year low of $6.77 and a 1 year high of $10.10.

Euronav (NYSE:EURN) last released its quarterly earnings results on Wednesday, October 31st. The shipping company reported ($0.27) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.02. The business had revenue of $110.52 million during the quarter, compared to the consensus estimate of $119.04 million. Euronav had a negative return on equity of 7.94% and a negative net margin of 18.87%. On average, equities analysts predict that Euronav will post -0.9 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of EURN. BlackRock Inc. increased its holdings in Euronav by 1,003,395.9% in the 2nd quarter. BlackRock Inc. now owns 3,883,529 shares of the shipping company’s stock worth $35,729,000 after purchasing an additional 3,883,142 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Euronav by 1,007.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,680,987 shares of the shipping company’s stock worth $23,325,000 after purchasing an additional 2,438,977 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in Euronav by 218.8% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,322,920 shares of the shipping company’s stock worth $20,209,000 after purchasing an additional 1,594,170 shares in the last quarter. FMR LLC increased its holdings in Euronav by 43.5% in the 2nd quarter. FMR LLC now owns 4,357,144 shares of the shipping company’s stock worth $40,053,000 after purchasing an additional 1,320,660 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Euronav by 1,778.4% in the 2nd quarter. Marshall Wace LLP now owns 987,658 shares of the shipping company’s stock worth $9,077,000 after purchasing an additional 935,077 shares in the last quarter. 40.15% of the stock is owned by 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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