CMB.TECH (NYSE:CMBT) Hits New 12-Month High – Here’s Why

CMB.TECH nv (NYSE:CMBT) reached a new 52-week high on Wednesday . The company traded as high as $13.21 and last traded at $12.9210, with a volume of 563368 shares trading hands. The stock had previously closed at $12.68.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CMBT shares. Weiss Ratings upgraded CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 14th. Pareto Securities upgraded shares of CMB.TECH to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Wall Street Zen downgraded shares of CMB.TECH from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

CMB.TECH Trading Up 2.2%

The firm has a 50-day moving average of $10.92 and a 200-day moving average of $9.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.61 and a current ratio of 0.73. The firm has a market capitalization of $2.52 billion, a P/E ratio of 15.80 and a beta of -0.08.

CMB.TECH (NYSE:CMBT) last issued its earnings results on Wednesday, November 26th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.04). The firm had revenue of $460.80 million during the quarter, compared to the consensus estimate of $393.37 million. CMB.TECH had a return on equity of 4.28% and a net margin of 12.64%.

CMB.TECH Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, January 7th were given a $0.05 dividend. The ex-dividend date was Wednesday, January 7th. CMB.TECH’s dividend payout ratio (DPR) is currently 8.54%.

Institutional Trading of CMB.TECH

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in CMB.TECH during the 2nd quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new position in CMB.TECH in the third quarter worth about $45,000. Sunbelt Securities Inc. bought a new position in CMB.TECH in the third quarter worth about $56,000. Legal & General Group Plc lifted its holdings in CMB.TECH by 221.3% in the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after buying an additional 4,497 shares during the period. Finally, Vise Technologies Inc. bought a new stake in CMB.TECH during the 3rd quarter valued at approximately $94,000.

About CMB.TECH

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.