CMB.TECH (NYSE:CMBT) Hits New 1-Year High - Should You Buy?

Key Points

• CMB.TECH shares reached a new 52-week high of $17.96 and last traded near $17.81, above their 50-day and 200-day moving averages.
• Analyst sentiment is favorable: two analysts rate the stock a Strong Buy and one rates it Hold, producing a consensus “Buy” rating.
• The company reported quarterly EPS of $1.27 versus estimates of $0.27 and revenue of $519.63 million versus expectations of $422.43 million; it also paid a special $0.44-per-share dividend.

CMB.TECH nv (NYSE:CMBT - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $17.96 and last traded at $17.8110, with a volume of 145067 shares traded. The stock had previously closed at $17.49.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CMBT. Wall Street Zen upgraded CMB.TECH from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Weiss Ratings raised shares of CMB.TECH from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Finally, Berenberg Bank upgraded CMB.TECH to a "strong-buy" rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, CMB.TECH has a consensus rating of "Buy".

CMB.TECH Price Performance

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 stock's 50 day simple moving average is $15.49 and its 200-day simple moving average is $14.34. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 10.58 and a beta of 0.12.

CMB.TECH (NYSE:CMBT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $1.00. The business had revenue of $519.63 million for the quarter, compared to analyst estimates of $422.43 million. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.

CMB.TECH Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. CMB.TECH's dividend payout ratio is presently 36.69%.

Institutional Investors Weigh In On CMB.TECH

A number of institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. increased its stake in shares of CMB.TECH by 145.7% during the first quarter. Optiver Holding B.V. now owns 12,473 shares of the company's stock worth $158,000 after purchasing an additional 7,397 shares in the last quarter. Bank of America Corp DE boosted its holdings in CMB.TECH by 526.9% in the 1st quarter. Bank of America Corp DE now owns 1,072,822 shares of the company's stock valued at $13,571,000 after purchasing an additional 901,688 shares during the last quarter. Amundi acquired a new position in CMB.TECH in the first quarter valued at approximately $246,000. Encompass Capital Advisors LLC lifted its stake in shares of CMB.TECH by 40.0% in the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company's stock valued at $44,275,000 after purchasing an additional 1,000,693 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of CMB.TECH by 288.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company's stock valued at $17,815,000 after acquiring an additional 1,045,800 shares during the period.

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.

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