CMB.TECH (NYSE:CMBT) Shares Gap Down – What’s Next?

CMB.TECH nv (NYSE:CMBT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $15.36, but opened at $14.57. CMB.TECH shares last traded at $14.64, with a volume of 281,019 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Berenberg Bank upgraded CMB.TECH to a “strong-buy” rating in a research note on Wednesday, April 22nd. Wall Street Zen raised CMB.TECH from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings raised CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, CMB.TECH has a consensus rating of “Buy”.

CMB.TECH Trading Down 2.5%

The stock’s fifty day simple moving average is $13.98 and its 200-day simple moving average is $12.38. The firm has a market cap of $2.99 billion, a PE ratio of 8.86 and a beta of 0.10. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.95 and a quick ratio of 0.85.

CMB.TECH (NYSE:CMBT) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $1.00. The business had revenue of $519.63 million during the quarter, compared to analysts’ expectations of $422.43 million. CMB.TECH had a net margin of 24.94% and a return on equity of 18.25%.

CMB.TECH Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 3rd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. CMB.TECH’s dividend payout ratio (DPR) is currently 10.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CMBT. Mcguire Capital Advisors Inc. purchased a new position in shares of CMB.TECH in the fourth quarter worth $26,000. Raymond James Financial Inc. acquired a new stake in CMB.TECH during the 2nd quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in CMB.TECH during the 4th quarter valued at approximately $29,000. Valley Wealth Managers Inc. acquired a new stake in CMB.TECH during the 1st quarter valued at approximately $33,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in CMB.TECH during the 3rd quarter valued at approximately $45,000.

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.