CMB.TECH nv (NYSE:CMBT – Get Free Report)’s share price reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $18.85 and last traded at $18.67, with a volume of 130841 shares. The stock had previously closed at $18.28.
The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.38. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.The business had revenue of $703.94 million for the quarter, compared to the consensus estimate of $574.37 million.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of CMB.TECH from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of CMB.TECH in a research note on Tuesday. Two 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.com, CMB.TECH currently has a consensus rating of “Buy”.
Institutional Investors Weigh In On CMB.TECH
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of CMB.TECH by 3,042.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock worth $40,701,000 after purchasing an additional 4,107,637 shares during the period. Encompass Capital Advisors LLC increased its position in shares of CMB.TECH by 40.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock valued at $44,275,000 after purchasing an additional 1,000,693 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of CMB.TECH by 21.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,849,002 shares of the company’s stock valued at $27,493,000 after purchasing an additional 496,086 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in CMB.TECH during the 1st quarter valued at $28,965,000. Finally, Norges Bank bought a new stake in CMB.TECH in the fourth quarter worth $21,956,000.
CMB.TECH Stock Performance
The company has a debt-to-equity ratio of 1.59, a current ratio of 0.95 and a quick ratio of 0.85. The business has a 50-day moving average of $15.91 and a 200-day moving average of $14.61. The company has a market capitalization of $3.69 billion, a P/E ratio of 10.95 and a beta of 0.12.
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.
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