CMB.TECH (NYSE:CMBT) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded CMB.TECH (NYSE:CMBT) from a "hold" rating to a "sell," a negative analyst action reported Saturday.
• The analyst picture is mixed: Weiss Ratings upgraded the stock to "hold (c-)," while MarketBeat notes one "Strong Buy" and one "Hold" for an average rating of "Buy."
• CMB.TECH missed Q4 EPS estimates ($0.31 vs. $0.34) but beat revenue expectations ($589.12M vs. $449.43M); the company trades at a $2.57B market cap with a P/E around 19.9.

CMB.TECH (NYSE:CMBT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings raised shares of CMB.TECH from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, CMB.TECH has an average rating of "Buy".

CMB.TECH Price Performance

CMBT opened at $12.93 on Friday. The stock's 50-day moving average price is $13.01 and its 200 day moving average price is $11.01. CMB.TECH has a 12-month low of $7.65 and a 12-month high of $14.93. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 19.88 and a beta of -0.03. The company has a current ratio of 0.86, a quick ratio of 0.79 and a debt-to-equity ratio of 1.80.

CMB.TECH (NYSE:CMBT - Get Free Report) last released its earnings results on Friday, February 27th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.03). The firm had revenue of $589.12 million during the quarter, compared to analyst estimates of $449.43 million. CMB.TECH had a net margin of 9.70% and a return on equity of 6.25%.

Hedge Funds Weigh In On CMB.TECH

Several hedge funds and other institutional investors have recently made changes to their positions in CMBT. Goldman Sachs Group Inc. boosted its stake in shares of CMB.TECH by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company's stock valued at $2,252,000 after buying an additional 37,356 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CMB.TECH by 3,978.5% during the second quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company's stock worth $277,000 after buying an additional 29,998 shares during the period. Legal & General Group Plc raised its holdings in CMB.TECH by 221.3% in the second quarter. Legal & General Group Plc now owns 6,529 shares of the company's stock valued at $59,000 after acquiring an additional 4,497 shares in the last quarter. Norges Bank acquired a new stake in CMB.TECH in the second quarter valued at approximately $2,847,000. Finally, Raymond James Financial Inc. purchased a new position in CMB.TECH in the second quarter worth approximately $27,000.

About CMB.TECH

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.

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