Euronav Downgraded by ValuEngine to “Hold”
ValuEngine lowered shares of Euronav (NYSE:EURN) from a buy rating to a hold rating in a research report sent to investors.
Several other research firms have also recently issued reports on EURN. Zacks Investment Research upgraded shares of Euronav from a hold rating to a buy rating and set a $10.00 target price on the stock in a research note on Wednesday, October 31st. DNB Markets lowered shares of Euronav from a buy rating to a hold rating in a research report on Friday, November 30th. Jefferies Financial Group began coverage on shares of Euronav in a research report on Monday, October 1st. They set a buy rating and a $11.00 price target for the company. BTIG Research began coverage on shares of Euronav in a research report on Thursday, September 27th. They set a buy rating and a $12.00 price target for the company. Finally, TheStreet lowered shares of Euronav from a c- rating to a d+ rating in a research report on Friday, December 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $10.25.
252,323 shares of the company traded hands, compared to its average volume of 350,200. The stock has a market capitalization of $1.10 billion, a P/E ratio of -83.00 and a beta of 0.69. Euronav has a 52 week low of $6.77 and a 52 week high of $10.10.
Euronav (NYSE:EURN) last posted its 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 for the quarter, compared to analysts’ expectations of $119.04 million. Euronav had a negative net margin of 18.87% and a negative return on equity of 7.94%. Research analysts forecast that Euronav will post -0.9 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EURN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Euronav during the 2nd quarter valued at about $114,000. Aperio Group LLC purchased a new stake in Euronav in the 2nd quarter worth approximately $124,000. Cubist Systematic Strategies LLC purchased a new stake in Euronav in the 2nd quarter worth approximately $161,000. Citadel Advisors LLC purchased a new stake in Euronav in the 3rd quarter worth approximately $166,000. Finally, Tower Research Capital LLC TRC increased its holdings in Euronav by 156.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 18,311 shares of the shipping company’s stock worth $169,000 after acquiring an additional 11,176 shares in the last quarter. 40.15% of the stock is owned by hedge funds and other institutional investors.