Zacks: Analysts Expect Euronav NV (NYSE:EURN) Will Announce Quarterly Sales of $362.70 Million

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Equities research analysts expect Euronav NV (NYSE:EURN) to post $362.70 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Euronav’s earnings, with the highest sales estimate coming in at $365.13 million and the lowest estimate coming in at $360.26 million. Euronav posted sales of $191.62 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 89.3%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, January 30th.

On average, analysts expect that Euronav will report full-year sales of $832.40 million for the current year, with estimates ranging from $827.68 million to $837.12 million. For the next fiscal year, analysts expect that the firm will post sales of $989.05 million, with estimates ranging from $983.06 million to $995.04 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Euronav.

Euronav (NYSE:EURN) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.06. The business had revenue of $90.44 million for the quarter, compared to the consensus estimate of $134.83 million. Euronav had a negative net margin of 5.12% and a negative return on equity of 1.31%.

A number of analysts have recently issued reports on EURN shares. Zacks Investment Research raised Euronav from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Monday, October 21st. Stifel Nicolaus raised Euronav from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Evercore ISI restated a “buy” rating and issued a $16.00 price objective on shares of Euronav in a report on Monday, August 12th. Finally, ValuEngine cut shares of Euronav from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.50.

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its position in shares of Euronav by 3,562.3% during the third quarter. Millennium Management LLC now owns 366,230 shares of the shipping company’s stock valued at $3,369,000 after acquiring an additional 356,230 shares during the last quarter. Barclays PLC increased its holdings in Euronav by 1,015.6% in the 3rd quarter. Barclays PLC now owns 544,890 shares of the shipping company’s stock valued at $5,013,000 after purchasing an additional 496,046 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Euronav by 6.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 812,045 shares of the shipping company’s stock valued at $7,465,000 after purchasing an additional 50,746 shares during the last quarter. Albert D Mason Inc. increased its holdings in Euronav by 383.6% in the 3rd quarter. Albert D Mason Inc. now owns 50,775 shares of the shipping company’s stock valued at $467,000 after purchasing an additional 40,275 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in Euronav by 198.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 67,847 shares of the shipping company’s stock valued at $624,000 after purchasing an additional 45,090 shares during the period. 28.51% of the stock is owned by institutional investors.

NYSE:EURN traded up $0.46 during trading hours on Tuesday, hitting $11.16. 1,601,957 shares of the stock were exchanged, compared to its average volume of 1,129,931. The firm’s fifty day moving average price is $11.01 and its 200 day moving average price is $9.34. Euronav has a 52-week low of $6.77 and a 52-week high of $11.79. The company has a market cap of $2.35 billion, a P/E ratio of -17.17 and a beta of 1.00. The company has a current ratio of 1.88, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

About Euronav

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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