In a report issued on October 12, Petter Haugen from Kepler Capital maintained a Buy rating on Euronav (EURN – Research Report), with a price target of EUR11.30. The company’s shares closed last Friday at $8.49, close to its 52-week low of $7.85.
According to TipRanks.com, Haugen is a 1-star analyst with an average return of -0.4% and a 32.0% success rate. Haugen covers the Industrial Goods sector, focusing on stocks such as Hoegh LNG Partners, DHT Holdings, and Frontline.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Euronav with a $12.52 average price target.
Based on Euronav’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $435 million and net profit of $260 million. In comparison, last year the company earned revenue of $169 million and had a GAAP net loss of $38.56 million.
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Euronav NV engages in the transportation and storage of crude oil. It operates through the Tankers and FpSO (Floating Production, Storage, and Offloading Operation) segments. The Tankers segment provides shipping services for crude oil seaborne transportation. The FpSO segment receives hydrocarbon fluids pumped by nearby offshore platforms and provides field storage. Its activities include crew, ship, and fleet management services. The company was founded in 1989 and is headquartered in Antwerp, Belgium.