BTIG took its Euronav [EURN] rating to the equivalent of Buy from Neutral, in a research note dated 2021-01-08. Other analysts also revised their coverage, with BTIG Research’s analysts downgrading the shares from “a Buy” rating to “a Neutral” rating in a research note to investors issued in late October. Meanwhile, DNB Markets had raised its rating on EURN to “Buy” from the earlier “Hold”, in a research note produced for clients May 28, 2020. In addition, there was an upgrade from Stifel on October 17, 2019. The rater changed EURN from “a Hold” to “a Buy”.
Is Euronav NV [NYSE:EURN] a Good Buy Right Now?
It should be noted that EURN technical indicators for short, intermediate as well as long term progress have placed an overall average of 40% as Sell. The average signal changed from 72% Sell in the last week and compares with 80% Sell in the past month. Data from Euronav NV’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.31 million shares in the past 20 days and the short term average signal indicates a Hold. In the last 50 days, the average trading volume was 1.55 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at 100% Sell and the 100-day average volume stands at 1.52 million shares.
EURN Price Performance
On Wall Street, Euronav NV [NYSE:EURN] finished Thursday’s session up 3.27% at $8.52. The stock went up to $8.53 at the same session while its lowest single day price was $8.19. In the last five days, it saw a rise of about 7.17%, Euronav NV shares gained by almost 6.50% since the beginning of the year. However, the share price has dropped to as low as -35.50% below its one year high. On 01/07/21, the company shares recorded $8.53, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $8.17. The company’s shares have declined by -32.86% in the past year. The 50-day SMA achieved is $8.03 while the 200-day SMA is $9.17. Volume gained to 1.5 million from 1.0 million in the previous session.
Euronav NV [EURN] Valuation Measures
Notably, Euronav NV [EURN] stock can be classified as a good candidate in the listing of underestimated low-priced Oil & Gas Midstream companies to purchase soonest possible with the prevailing 12-month PE ratio of 2.65. The measure means the stock is exchanging at a discount as compared to the 13.58x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.19 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 0.94 which means EURN serve an attractive investment opportunity compared to its competitors.
EURN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 8.30 level, and in case of violation of this particular level, it will cause more drop to 8.07 level. On the upper level, 8.75 is still the key resistance. The stock may increase to the subsequent resistance at 8.64. The Relative Strength Index (RSI) pinned on the 14-day chart is 58.88, implying a neutral technical stance while the MACD stands at 0.20, meaning price will decrease in the next trading period. Percent R indicator moved to 1.49%, implying bullish price movement. Stochastic %K at 71.30% suggest selling the stock.
What is the short interest in Euronav NV?
Short interest in the Euronav NV stock has surged, increasing by 0.17 million shares to total 3.66 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.83 million, data from Yahoo Finance shows. The decrease of -4.64% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.81% of the overall float for the stock.
Euronav NV’s Biggest Shareholders: Who Owns Euronav NV [EURN]?
Filings by M&G Investment Management Ltd. showed that the firm now holds a total of 11,279,552 shares or roughly 5.13% of the outstanding EURN shares. This means their shares have reduced by -11,667 from the 11,279,552 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Fidelity Management & Research Co updated stake is worth $86,271,918. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 20.29% stake valued at $43,512,086 while Norges Bank Investment Management added theirs at $35,337,980. During the last quarter, The Vanguard Group, Inc. raised 929,141 of its shares in Euronav NV while Norges Bank Investment Management bought 42,197 shares. The Man Group Investments Ltd.’s holdings currently number 3,789,006 shares at $32282331.12. According to the firm’s last 13F report, AzValor Asset Management SGIIC SA shares in the company at filing stood at 3,517,286 shares, roughly $27,786,559.
EURN Earnings Forecast For The Current Quarter
Euronav NV [EURN] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $136.23M and an earnings per share of -$0.2 for Dec 2020. Looking further ahead, the company is expected to report revenue of $185.91M at an EPS of -$0.05 for Mar 2021. The estimates represent downside of -38.30% and -92.30% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
EURN Earnings Estimates For The Current Year
For the financial year, Euronav NV [NYSE:EURN] is expected to bring in revenue of $1.22B. The returns are nearly $287.62 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.22, higher than that of FY19 by $1.67. Estimates put this year’s earnings growth at 303.60%, -92.30% for the next, and at an annual -13.00% over the next 5-year period. As for sales, forecasts are for an increase of 30.90% in the current fiscal year and a further -38.30% over the following year.