CMB.TECH (NYSE:CMBT) Releases Earnings Results, Misses Estimates By $0.10 EPS

Key Points

• CMB.TECH reported a quarterly EPS of $0.04, falling short of the consensus estimate of $0.14.
• The company achieved a revenue of $387.81 million for the quarter, exceeding analysts' expectations of $259 million.
• Wall Street Zen downgraded CMB.TECH from a "hold" rating to a "sell" rating on August 9th.

CMB.TECH (NYSE:CMBT - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.10), Zacks reports. The company had revenue of $387.81 million during the quarter, compared to the consensus estimate of $259.00 million. CMB.TECH had a return on equity of 6.02% and a net margin of 22.69%.

CMB.TECH Stock Performance

CMBT stock traded down $0.05 during trading on Tuesday, reaching $8.57. 954,568 shares of the company's stock were exchanged, compared to its average volume of 507,657. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 1.98. CMB.TECH has a 1-year low of $7.65 and a 1-year high of $17.60. The company's fifty day moving average price is $9.03 and its 200-day moving average price is $9.13. The firm has a market cap of $1.67 billion, a PE ratio of 6.91 and a beta of 0.04.

CMB.TECH Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, October 2nd.

Institutional Trading of CMB.TECH

A number of hedge funds and other institutional investors have recently modified their holdings of CMBT. Goldman Sachs Group Inc. raised 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 worth $2,252,000 after buying an additional 37,356 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CMB.TECH by 3,978.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company's stock worth $277,000 after buying an additional 29,998 shares in the last quarter. Orion Porfolio Solutions LLC bought a new stake in shares of CMB.TECH in the 2nd quarter worth $98,000. Legal & General Group Plc grew its holdings in shares of CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company's stock worth $59,000 after acquiring an additional 4,497 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of CMB.TECH in the 2nd quarter worth $27,000.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered CMB.TECH from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th.

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.