CMB.TECH (NYSE:CMBT) Announces Earnings Results

CMB.TECH (NYSE:CMBT) issued its quarterly earnings results on Tuesday. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $1.00, FiscalAI reports. CMB.TECH had a net margin of 9.70% and a return on equity of 6.25%. The company had revenue of $519.63 million during the quarter, compared to the consensus estimate of $422.43 million.

CMB.TECH Price Performance

CMBT stock opened at $15.09 on Tuesday. 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 has a one year low of $7.78 and a one year high of $15.57. The firm has a market capitalization of $2.98 billion, a PE ratio of 23.22 and a beta of 0.06. The firm has a 50-day moving average of $13.24 and a two-hundred day moving average of $11.89.

CMB.TECH Announces Dividend

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

Institutional Trading of CMB.TECH

A number of hedge funds have recently bought and sold shares of the company. Mcguire Capital Advisors Inc. purchased a new stake in CMB.TECH during the fourth quarter valued at about $26,000. XTX Topco Ltd lifted its stake in CMB.TECH by 252.0% during the fourth quarter. XTX Topco Ltd now owns 133,723 shares of the company’s stock valued at $1,290,000 after buying an additional 95,737 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in CMB.TECH during the fourth quarter valued at about $3,507,000. Millennium Management LLC purchased a new stake in CMB.TECH during the fourth quarter valued at about $15,792,000. Finally, Engineers Gate Manager LP purchased a new stake in CMB.TECH during the fourth quarter valued at about $482,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on CMBT. Wall Street Zen raised shares of CMB.TECH from a “sell” rating to a “hold” rating in a report on Sunday, April 12th. Berenberg Bank raised shares of CMB.TECH to a “strong-buy” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of CMB.TECH from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, CMB.TECH presently has a consensus rating of “Buy”.

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.