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Euronav NV (NYSE: EURN) Rises 0.90% In Recent Trading, What’s Next?

Euronav NV (NYSE:EURN) traded at $20.14 at last check on Wednesday, November 23, made an upward move of 0.90% on its previous day’s price.

Looking at the stock we see that its previous close was $19.96 and the beta (5Y monthly) reads -0.01 with the day’s price range being $19.90 – $20.49. In terms of its 52-week price range, EURN has a high of $20.75 and a low of $7.91. The company’s stock has gained about 10.40% over that past 30 days.

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Euronav NV has a market cap of $4.03 billion. Estimates by analysts give the company expected earnings per share (EPS) of $0.72, with the EPS growth for the year raised at $0.5 for 2022 and $1.87 for next year. These figures represent 129.80% and 274.00% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $312.36 million, with a low of $286.3 million and a high of $360.1 million. The median projection represents growth squeezing down to 203.40% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $719.13 million, or 71.30% up from figures reported last year.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the EURN stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Based on estimates by 15 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 5 have rated the Euronav NV (EURN) stock as a Hold, while 10 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 5.50% off its SMA20 and 13.90% from its 50-day simple moving average. The RSI (14) is pointing at 63.82 while the volatility over the past week is 3.93% and jumps to 3.87% over the past one month. The average price target for the stock over the next 12 months is $21.80, with the estimates having a low of $14.15 and a high of $33.00. These price ends are 29.74% and -63.85% off the today’s price level respectively, although investors could be excited at the prospect of a -6.75% if the EURN share price touches on the median price of $21.50.

Coming back to Euronav NV (NYSE:EURN), we note that the average 3-month trading volume was 1.18 million, while that of the preceding 10-day period stands at 1.02 million. Current shares outstanding are 201.78 million.

The insiders hold 54.32% of the company’s shares while institutions hold 31.58%. The data shows that short shares as of Oct 30, 2022, stood at 1.81 million at a short ratio of 1.58. This represents a 0.90% short interest in shares outstanding on Oct 30, 2022. Shares short fall in October from the previous month at 2.56 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 124.52% up in year-to-date price movement.

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