Analysts Anticipate Euronav (EURN) Will Announce Quarterly Sales of $71.16 Million

Wall Street brokerages forecast that Euronav (NYSE:EURN) will announce sales of $71.16 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Euronav’s earnings. The highest sales estimate is $79.50 million and the lowest is $62.58 million. Euronav reported sales of $126.43 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 43.7%. The company is scheduled to report its next quarterly earnings results on Thursday, August 9th.

On average, analysts expect that Euronav will report full-year sales of $387.30 million for the current financial year, with estimates ranging from $362.10 million to $430.01 million. For the next year, analysts anticipate that the firm will post sales of $600.19 million per share, with estimates ranging from $499.90 million to $777.22 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Euronav.

Euronav (NYSE:EURN) last posted its earnings results on Wednesday, April 25th. The shipping company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The business had revenue of $78.33 million for the quarter, compared to analyst estimates of $89.58 million. Euronav had a negative return on equity of 5.18% and a negative net margin of 16.10%.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised Euronav from a “strong sell” rating to a “hold” rating in a report on Monday, April 16th. TheStreet raised Euronav from a “d+” rating to a “c” rating in a report on Thursday, January 25th. UBS boosted their target price on Euronav from $8.75 to $9.25 and gave the stock a “neutral” rating in a report on Friday, January 26th. JPMorgan Chase boosted their target price on Euronav from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Friday, March 23rd. Finally, DNB Markets raised Euronav from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Euronav has an average rating of “Hold” and an average target price of $9.29.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in shares of Euronav during the 1st quarter valued at $133,000. Jefferies Group LLC bought a new stake in shares of Euronav during the 4th quarter worth $163,000. Macquarie Group Ltd. bought a new stake in shares of Euronav during the 4th quarter worth $190,000. Millennium Management LLC bought a new stake in shares of Euronav during the 1st quarter worth $381,000. Finally, Impala Asset Management LLC bought a new stake in shares of Euronav during the 4th quarter worth $687,000. 22.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Euronav remained flat at $$8.25 during trading on Friday, Marketbeat Ratings reports. The company had a trading volume of 342,322 shares, compared to its average volume of 479,146. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -91.67 and a beta of 0.54. Euronav has a 1-year low of $6.90 and a 1-year high of $9.65.

About Euronav

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 August 23, 2017, it owned and operated a fleet of 56 double hulled vessels, including 30 very large crude carriers, 1 V-Plus vessel, 19 Suezmax vessels, and 2 floating, storage, and offloading vessels, as well as 4 Suezmax vessels under construction.

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Earnings History and Estimates for Euronav (NYSE:EURN)

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