Euronav NV Announces Quarterly Dividend of $0.27 (NYSE:EURN)

Euronav NV (NYSE:EURN) announced a quarterly dividend on Thursday, April 4th, Wall Street Journal reports. Investors of record on Thursday, May 23rd will be paid a dividend of 0.27 per share by the shipping company on Friday, May 31st. This represents a $1.08 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend is Wednesday, May 22nd.

Euronav has increased its dividend payment by an average of 21.3% annually over the last three years. Euronav has a payout ratio of 61.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Euronav to earn $1.27 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 85.0%.

Euronav Stock Performance

Shares of EURN stock traded down $0.04 during mid-day trading on Thursday, hitting $16.04. The stock had a trading volume of 203,400 shares, compared to its average volume of 1,116,199. Euronav has a fifty-two week low of $14.10 and a fifty-two week high of $21.26. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.60. The company’s 50-day simple moving average is $17.21 and its 200-day simple moving average is $17.57.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EURN shares. StockNews.com downgraded shares of Euronav from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price target on shares of Euronav in a report on Wednesday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Euronav from $17.86 to $21.70 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Euronav from a “buy” rating to a “hold” rating and set a $17.86 target price on the stock. in a research report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.18.

About Euronav

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.