CMB.TECH (NYSE:CMBT) Issues Quarterly Earnings Results

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) issued its earnings results on Thursday. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.10), Zacks reports. CMB.TECH had a net margin of 43.45% and a return on equity of 12.63%. The business had revenue of $387.81 million for the quarter, compared to analysts' expectations of $259.00 million.

CMB.TECH Stock Performance

CMBT opened at $7.99 on Thursday. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 3.72 and a beta of 0.02. The company has a fifty day moving average of $9.08 and a 200 day moving average of $9.19. CMB.TECH has a fifty-two week low of $7.65 and a fifty-two week high of $17.60. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.88 and a current ratio of 0.95.

Analyst Ratings Changes

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

Hedge Funds Weigh In On CMB.TECH

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in CMB.TECH by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 248,014 shares of the company's stock valued at $2,252,000 after acquiring an additional 37,356 shares in the last quarter. JPMorgan Chase & Co. grew its stake in CMB.TECH by 3,978.5% during the second quarter. JPMorgan Chase & Co. now owns 30,752 shares of the company's stock valued at $277,000 after acquiring an additional 29,998 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new position in CMB.TECH during the second quarter valued at $98,000. Legal & General Group Plc grew its stake in CMB.TECH by 221.3% during 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. Finally, Raymond James Financial Inc. purchased a new position in CMB.TECH during the second quarter valued at $27,000.

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.

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