CMB.TECH (NYSE:CMBT) Releases Earnings Results, Beats Expectations By $0.38 EPS

CMB.TECH (NYSE:CMBT) issued its quarterly earnings data on Thursday. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.38, Zacks reports. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.

CMB.TECH Price Performance

NYSE CMBT opened at $17.63 on Thursday. CMB.TECH has a fifty-two week low of $7.86 and a fifty-two week high of $18.52. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.85 and a current ratio of 0.95. The company has a market capitalization of $3.52 billion, a PE ratio of 10.43 and a beta of 0.12. The business’s fifty day moving average is $15.84 and its 200 day moving average is $14.57.

Institutional Trading of CMB.TECH

Several institutional investors have recently made changes to their positions in CMBT. Mcguire Capital Advisors Inc. bought a new stake in shares of CMB.TECH in the fourth quarter worth about $26,000. XTX Topco Ltd raised its position in CMB.TECH by 252.0% in the 4th quarter. XTX Topco Ltd now owns 133,723 shares of the company’s stock worth $1,290,000 after purchasing an additional 95,737 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of CMB.TECH during the 4th quarter worth approximately $3,507,000. Millennium Management LLC purchased a new stake in shares of CMB.TECH during the fourth quarter valued at $15,792,000. Finally, Engineers Gate Manager LP purchased a new position in shares of CMB.TECH during the fourth quarter worth approximately $482,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of CMB.TECH in a research report on Tuesday. Wall Street Zen upgraded shares of CMB.TECH from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock 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.