CMB.TECH (NYSE:CMBT) Hits New 52-Week High – Still a Buy?

CMB.TECH nv (NYSE:CMBT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.21 and last traded at $12.9210, with a volume of 563368 shares traded. The stock had previously closed at $12.68.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CMBT shares. Pareto Securities upgraded CMB.TECH to a “strong-buy” rating in a report on Friday, November 28th. Wall Street Zen cut shares of CMB.TECH from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings raised shares of CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, CMB.TECH has an average rating of “Buy”.

CMB.TECH Stock Up 2.2%

The company has a market cap of $2.52 billion, a P/E ratio of 15.80 and a beta of -0.08. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.73 and a quick ratio of 0.61. The company’s 50-day moving average is $10.92 and its two-hundred day moving average is $9.90.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings results on Wednesday, November 26th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.04). CMB.TECH had a return on equity of 4.28% and a net margin of 12.64%.The business had revenue of $460.80 million during the quarter, compared to analysts’ expectations of $393.37 million.

CMB.TECH Dividend Announcement

The business also recently declared a special dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, January 7th were paid a $0.05 dividend. The ex-dividend date was Wednesday, January 7th. CMB.TECH’s payout ratio is currently 8.54%.

Institutional Investors Weigh In On CMB.TECH

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in CMB.TECH by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company’s stock worth $2,252,000 after purchasing an additional 37,356 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CMB.TECH by 3,978.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company’s stock worth $277,000 after buying an additional 29,998 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of CMB.TECH by 221.3% in the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after acquiring an additional 4,497 shares during the period. Norges Bank purchased a new stake in CMB.TECH during the second quarter valued at $2,847,000. Finally, Raymond James Financial Inc. bought a new position in CMB.TECH in the second quarter valued at about $27,000.

About CMB.TECH

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.