CMB.TECH (NYSE:CMBT) Hits New 1-Year High After Better-Than-Expected Earnings

CMB.TECH nv (NYSE:CMBT) shares reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $16.00 and last traded at $16.0830, with a volume of 257640 shares. The stock had previously closed at $15.06.

The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $1.00. CMB.TECH had a return on equity of 6.25% and a net margin of 9.70%.The company had revenue of $519.63 million for the quarter, compared to analysts’ expectations of $422.43 million.

CMB.TECH Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, April 22nd. Investors of record on Wednesday, April 15th were given a dividend of $0.16 per share. The ex-dividend date was Wednesday, April 15th. CMB.TECH’s dividend payout ratio is currently 27.69%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CMBT. Wall Street Zen upgraded shares of CMB.TECH from a “sell” rating to a “hold” rating in a research note on Sunday, April 12th. Weiss Ratings cut CMB.TECH from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, Berenberg Bank upgraded CMB.TECH to a “strong-buy” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, CMB.TECH currently has an average rating of “Buy”.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Valley Wealth Managers Inc. bought a new stake in CMB.TECH during the first quarter worth approximately $33,000. Mcguire Capital Advisors Inc. bought a new stake in shares of CMB.TECH in the 4th quarter valued at approximately $26,000. Raymond James Financial Inc. purchased a new position in shares of CMB.TECH in the 2nd quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of CMB.TECH in the 4th quarter worth approximately $29,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of CMB.TECH during the 3rd quarter valued at approximately $45,000.

CMB.TECH Trading Up 6.8%

The company has a 50-day moving average price of $13.24 and a two-hundred day moving average price of $11.89. The stock has a market cap of $2.98 billion, a P/E ratio of 24.83 and a beta of 0.06. The company has a current ratio of 0.86, a quick ratio of 0.79 and a debt-to-equity ratio of 1.80.

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.