Todays Report: The Zacks Investment Research Downgrades Euronav NV (EURN) to Sell

The Zacks Investment Research Downgrades Euronav NV (EURN) to Sell

Euronav NV (NASDAQ:EURN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

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 analysts also recently commented on EURN. Citigroup Inc. restated a “buy” rating and set a $9.00 price objective (down from $11.00) on shares of Euronav NV in a report on Saturday, October 8th. Wells Fargo & Co. reiterated a “buy” rating on shares of Euronav NV in a report on Tuesday, September 27th. Credit Suisse Group AG reiterated a “buy” rating and issued a $15.00 price target on shares of Euronav NV in a report on Friday, August 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $9.50 price target (down from $11.00) on shares of Euronav NV in a report on Thursday, August 25th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Euronav NV in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $10.17.

Shares of Euronav NV (NASDAQ:EURN) opened at 7.85 on Friday. Euronav NV has a one year low of $7.39 and a one year high of $16.23. The stock has a market capitalization of $1.24 billion and a P/E ratio of 3.77. The firm’s 50-day moving average price is $8.33 and its 200-day moving average price is $9.37.

Euronav NV (NASDAQ:EURN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.13. Equities research analysts anticipate that Euronav NV will post $1.88 EPS for the current fiscal year.

The company also recently disclosed a special dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 21st were given a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, September 20th.

A number of institutional investors have recently bought and sold shares of the stock. Stevens Capital Management LP boosted its position in Euronav NV by 0.5% in the second quarter. Stevens Capital Management LP now owns 12,025 shares of the company’s stock worth $110,000 after buying an additional 61 shares during the last quarter. Bremer Trust National Association boosted its position in Euronav NV by 3.3% in the third quarter. Bremer Trust National Association now owns 15,499 shares of the company’s stock worth $118,000 after buying an additional 495 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Euronav NV by 27.2% in the second quarter. Parametric Portfolio Associates LLC now owns 14,724 shares of the company’s stock worth $135,000 after buying an additional 3,152 shares during the last quarter. A.R.T. Advisors LLC boosted its position in Euronav NV by 12.3% in the second quarter. A.R.T. Advisors LLC now owns 108,977 shares of the company’s stock worth $999,000 after buying an additional 11,930 shares during the last quarter. Finally, Swiss National Bank boosted its position in Euronav NV by 6.0% in the second quarter. Swiss National Bank now owns 211,939 shares of the company’s stock worth $1,940,000 after buying an additional 12,073 shares during the last quarter.

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