Euronav NV (EURN) Stock Price Will Hit $15.85: Analysts
By Tina Gumbley - March 8, 2016
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Analysts are weighing in on how Euronav NV (EURN), might perform in the near term. Wall Street analysts have favorable assessment of of the stock, with a mean rating of 1.8. The stock is rated as buy by 6 analysts, with 4 outperform and 0 hold rating. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for strong sell.
For the current quarter, the 12 analysts offering adjusted EPS forecast have a consensus estimate of $0.63 a share, which would compare with $0.54 in the same quarter last year. They have a high estimate of $0.85 and a low estimate of $0.48. Revenue for the period is expected to total nearly $217.95M from $204.52M the year-ago period.
For the full year, 16 Wall Street analysts forecast this company would deliver earnings of $1.89 per share, with a high estimate of $2.75 and a low estimate of $1.24. It had reported earnings per share of $1.89 in the corresponding quarter of the previous year. Revenue for the period is expected to total nearly $766.91M versus 846.51M in the preceding year.
The analysts project the company to maintain annual growth of around -13 percent over the next five years as compared to an average growth rate of 3.74 percent expected for its competitors in the same industry.
Among the 17 analysts Thomson/First Call tracks, the 12-month average price target for EURN is $15.85 but some analysts are projecting the price to go as high as $24. If the optimistic analysts are correct, that represents a 141 percent upside potential from the recent closing price of $9.97. Some sell-side analysts, particularly the bearish ones, have called for $8.5 price targets on shares of Euronav NV.
In the last reported results, the company reported earnings of $0.66 per share, while analysts were calling for share earnings of $0.64. It was an earnings surprise of 3.1 percent. In the matter of earnings surprises, the term Cockroach Effect is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Euronav NV, together with its subsidiaries, owns, operates, and manages a fleet of vessels for the transportation and storage of crude oil and petroleum products worldwide. The company operates through two segments: Tankers; and Floating Production, Storage, and Offloading/Floating, Storage, and Offloading (FPSO/FSO). As of April 27, 2015, it owned and operated a fleet of 53 double hulled vessels, including 1 ultra large crude carrier; 2 floating, storage, and offloading (FSO) vessels; 27 very large crude carriers; and 23 suezmaxes. The company also offers a range of ship management services, such as technical; fleet personnel management of experienced officers and crew; health, safety, quality, and environmental protection management system; insurance and claims handling; and sourcing of bunkering, equipment, and services. In addition, its ship management services also comprise financial, information technology, human resources, and legal services; project management for new building supervision, including pre- and post-contract consultancy and technical support, as well as FSO conversions; commercial management; and operational management. The company was incorporated in 2003 and is headquartered in Antwerp, Belgium.