Euronav NV (NYSE:EURN) – Equities research analysts at Jefferies Financial Group dropped their Q4 2019 earnings estimates for shares of Euronav in a report issued on Thursday, August 8th. Jefferies Financial Group analyst R. Giveans now expects that the shipping company will post earnings per share of $0.02 for the quarter, down from their prior estimate of $0.05. Jefferies Financial Group also issued estimates for Euronav’s FY2020 earnings at $0.46 EPS.
A number of other equities analysts have also recently issued reports on the company. Evercore ISI reiterated a “buy” rating and issued a $16.00 target price on shares of Euronav in a report on Monday. Zacks Investment Research upgraded Euronav from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine cut Euronav from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Euronav currently has a consensus rating of “Buy” and an average price target of $11.86.
Institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in Euronav in the 4th quarter valued at $30,706,000. MARSHALL WACE ASIA Ltd lifted its stake in Euronav by 12.8% during the first quarter. MARSHALL WACE ASIA Ltd now owns 2,718,735 shares of the shipping company’s stock valued at $22,158,000 after purchasing an additional 308,432 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in Euronav by 1.6% during the second quarter. Deprince Race & Zollo Inc. now owns 2,176,450 shares of the shipping company’s stock valued at $20,546,000 after purchasing an additional 34,812 shares during the last quarter. Deutsche Bank AG lifted its stake in Euronav by 29.8% during the fourth quarter. Deutsche Bank AG now owns 1,987,696 shares of the shipping company’s stock valued at $13,773,000 after purchasing an additional 456,406 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Euronav by 249.5% during the second quarter. Renaissance Technologies LLC now owns 1,615,704 shares of the shipping company’s stock valued at $15,202,000 after purchasing an additional 1,153,365 shares during the last quarter. Institutional investors own 29.93% of the company’s stock.
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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