Euronav NV (NYSE:EURN) Expected to Post Quarterly Sales of $124.00 Million

Equities research analysts expect Euronav NV (NYSE:EURN) to report $124.00 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Euronav’s earnings, with the lowest sales estimate coming in at $121.08 million and the highest estimate coming in at $126.92 million. Euronav posted sales of $78.14 million during the same quarter last year, which suggests a positive year over year growth rate of 58.7%. The business is expected to report its next earnings report before the market opens on Thursday, August 8th.

On average, analysts expect that Euronav will report full-year sales of $656.99 million for the current fiscal year, with estimates ranging from $634.76 million to $679.22 million. For the next year, analysts forecast that the firm will report sales of $787.54 million, with estimates ranging from $767.40 million to $807.68 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Euronav.

A number of brokerages have recently weighed in on EURN. Evercore ISI reiterated a “buy” rating and issued a $16.00 price target 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 downgraded 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 six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $11.83.

A number of institutional investors and hedge funds have recently modified their holdings of EURN. Steward Partners Investment Advisory LLC bought a new position in Euronav during the 2nd quarter worth $25,000. Aperio Group LLC bought a new position in shares of Euronav in the second quarter worth $68,000. Bienville Capital Management LLC bought a new position in shares of Euronav in the first quarter worth $82,000. Albert D Mason Inc. bought a new position in shares of Euronav in the second quarter worth $99,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Euronav in the second quarter worth $104,000. Hedge funds and other institutional investors own 29.93% of the company’s stock.

Shares of NYSE EURN traded up $0.31 during trading on Friday, reaching $7.56. The stock had a trading volume of 429,794 shares, compared to its average volume of 397,938. Euronav has a one year low of $6.77 and a one year high of $10.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.19 and a current ratio of 1.53. The stock has a market cap of $1.68 billion, a PE ratio of -11.63 and a beta of 0.96. The firm’s 50 day moving average price is $8.63 and its two-hundred day moving average price is $8.62.

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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Earnings History and Estimates for Euronav (NYSE:EURN)

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