Euronav (NYSE:EURN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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. “
A number of other equities analysts have also recently issued reports on EURN. BidaskClub cut Euronav from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. TheStreet lowered Euronav from a “c-” rating to a “d+” rating in a research report on Tuesday, November 14th. ValuEngine raised Euronav from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Stifel Nicolaus set a $8.00 target price on Euronav and gave the stock a “hold” rating in a research report on Sunday, October 29th. Finally, Deutsche Bank set a $10.00 target price on Euronav and gave the stock a “buy” rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $9.17.
Euronav (NYSE:EURN) last posted its quarterly earnings results on Tuesday, October 31st. The shipping company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.07. Euronav had a return on equity of 0.49% and a net margin of 5.90%. sell-side analysts anticipate that Euronav will post -0.09 earnings per share for the current year.
Large investors have recently modified their holdings of the company. Lasry Marc acquired a new position in shares of Euronav during the third quarter worth approximately $14,203,000. Allianz Asset Management GmbH raised its position in shares of Euronav by 5.3% during the third quarter. Allianz Asset Management GmbH now owns 200,574 shares of the shipping company’s stock worth $1,649,000 after purchasing an additional 10,072 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Euronav by 20.3% during the third quarter. Dimensional Fund Advisors LP now owns 95,432 shares of the shipping company’s stock worth $773,000 after purchasing an additional 16,120 shares during the period. 22.69% of the stock is currently owned by institutional investors.
Euronav Company Profile
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the ocean 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 April 4, 2017, it owned and operated a fleet of 55 double hulled vessels, including 31 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 2 Suezmax vessels under construction.
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