Analysts Update Their Price Forecasts For Euronav NV (EURN)

UPWK stock
UPWK stock

M&G Investment Management Ltd. has recently announced that it has increased stake in Euronav NV (NYSE:EURN) by 1.61%. After grabbing 11.04 million shares, the institutional investor is now in possession of 0.17 million shares of the Energy Company. The new investment brought the stake of investor firm to 5.01% having worth around $108.03 million. Moreover, Fidelity Management & Research Co.. increased its share by 5.43 million to have a control over 5.43 million shares. And Norges Bank Investment Management raised its holdings to 42197.0 shares by acquiring 4.47 million shares or 2.03% of the stake.

Euronav NV (EURN) concluded trading on 08/27/20 at a closing price of $9.11, with 3.21 million shares of worth about $29.27 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -3.50% during that period and on Thursday the price saw a loss of about -5.40%. Currently the company’s common shares owned by public are about 206.62M shares, out of which, 183.00M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the EURN stock and their offered price forecasts bring an average price target of $12.62. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $18.00 and could fall to a lowest price of $8.00. Analysts also issued an outlook of 1.40 for the Euronav NV stock for next 12 months. The stock’s current price level is 35.44% above of average price target set by the analysts, while a rise to estimated low would result in loss of -13.87 for the stock. However, touching the estimated high of $18.00 would mean a gain of 49.39% for the stock.

Government Pension Fund – Global, Man UK ICVC – UK Income Fund, and DFA International Small Cap Value are the top 3 mutual funds which are holding stakes in Euronav NV Government Pension Fund – Global is currently holding 4.47 million shares of worth totaling $43.79 million. The company recently came buying 42197.0 shares which brought its stake up to 2.03% of the company’s outstanding shares. Man UK ICVC – UK Income Fund bought 0.54 million shares, after which its hold over company’s outstanding shares expand to 1.72%, leaving 3.79 million shares with the mutual fund that have a worth of about $37.09 million. DFA International Small Cap Value, after buying 3.37 million shares, have now control over 1.53% of the stake in the company. It holds 0.0 shares of worth $32.97 million.

Euronav NV (NYSE: EURN) started trading at $9.32, below -$0.31 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $9.11, or with a loss of -5.40%. Stock saw a price change of -3.50% in past 5 days and over the past one month there was a price change of -7.70%. Year-to-date (YTD), EURN shares are showing a performance of -27.35% which increased to 14.59% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.80 but also hit the highest price of $13.21 during that period. While comparing its average daily trading volume of 2.14 million shares, we see that about 3.21 million changed hands on the day. The stock is currently trading -7.15% below its 20-day simple moving average (SMA20), while that difference is down -0.97% for SMA50 and it goes to -10.59% lower than SMA200.

M&G Investment Management Ltd. acquired 11.04 million shares of Euronav NV having value of about $108.03 million. Data submitted at the U.S SEC by M&G Investment Management Ltd. revealed that the firm now holds 0.17 million shares in the company valued at close to $1589266.83, or have control over 1.61% stake in the company. Euronav NV (NYSE: EURN) currently have 206.62M outstanding shares and institutions hold larger chunk of about 49.90% of that. Holding of mutual funds in the company is about 13.25% while other institutional holders and individual stake holders have control over 27.80% and — of the stake respectively.

The stock has a current market capitalization of $1.88B. PE ratio of stock for trailing 12 months is 3.18, while it has posted earnings per share of $2.87 in the same period. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EURN, volatility over the week remained 2.37% while standing at 2.33% over the month.

Analysts are in expectations that Euronav NV (EURN) stock would likely to be making an EPS of $0.51 in the current quarter, while forecast for next quarter ESPS is $0.19 and it is $0.89 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.18 which is $2.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 407.30% while it is estimated to decrease by -68.10% in next year.

Analysts at 14 brokerage firms have issued recommendations for the Euronav NV (EURN)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.40. Out of those 14 Wall Street analysts, 12 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by DNB Markets on May 28, 2020 offering a Buy rating for the stock and assigned a target price of to it. Coverage by Stifel stated Euronav NV (EURN) stock as a Buy in their note to investors on October 17, 2019, suggesting a price target of for the stock. On February 12, 2019, DNB Markets Upgrade their recommendations, while on January 23, 2019, JP Morgan Upgrade their ratings for the stock with a price target of. Stock get a Hold rating from DNB Markets on November 30, 2018.


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