CMB.TECH (NYSE:CMBT) Issues Quarterly Earnings Results

CMB.TECH (NYSE:CMBT) posted its quarterly earnings results on Thursday. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.38, Zacks reports. CMB.TECH had a net margin of 24.94% and a return on equity of 18.25%.

CMB.TECH Price Performance

Shares of NYSE CMBT opened at $17.63 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.59. The company’s 50-day moving average price is $15.84 and its 200 day moving average price is $14.57. CMB.TECH has a 52 week low of $7.86 and a 52 week high of $18.52. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 10.43 and a beta of 0.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CMBT shares. Weiss Ratings restated a “hold (c+)” rating on shares of CMB.TECH in a report on Tuesday. Wall Street Zen raised CMB.TECH from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Hedge Funds Weigh In On CMB.TECH

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMBT. Mcguire Capital Advisors Inc. purchased a new stake in shares of CMB.TECH in the fourth quarter valued at about $26,000. Raymond James Financial Inc. purchased a new position in shares of CMB.TECH during the 2nd quarter worth approximately $27,000. Public Employees Retirement System of Ohio purchased a new position in shares of CMB.TECH during the 3rd quarter worth approximately $45,000. Sunbelt Securities Inc. acquired a new position in shares of CMB.TECH during the 3rd quarter worth approximately $56,000. Finally, Legal & General Group Plc raised its position in shares of CMB.TECH by 221.3% during the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after purchasing an additional 4,497 shares during the last quarter.

CMB.TECH Company Profile

Euronav NV, together with its subsidiaries, engages in the transportation and storage of crude oil worldwide. The company offers floating, storage, and offloading (FSO) services. It also owns and operates a fleet of vessels. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.