CMB.TECH (NYSE:CMBT) Rating Increased to Strong-Buy at Berenberg Bank

Key Points

• Berenberg Bank upgraded CMB.TECH to a "strong-buy", helping drive a MarketBeat consensus of "Buy" (two Strong Buy ratings and one Hold); the stock opened at $12.88 and traded down about 0.7% on the day.
• For the latest quarter CMB.TECH reported EPS of $0.31, missing estimates of $0.34, while revenue of $589.12 million beat expectations of $449.43 million and the company posted a 9.7% net margin.
• Institutional interest has risen—most notably Folketrygdfondet's ~$51.7 million stake—and CMB.TECH operates Euronav NV, a global crude-oil tanker and storage business now under CMB NV.

CMB.TECH (NYSE:CMBT - Get Free Report) was upgraded by research analysts at Berenberg Bank to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts have also commented on the stock. Wall Street Zen raised shares of CMB.TECH from a "sell" rating to a "hold" rating in a research note on Sunday, April 12th. 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. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy".

CMB.TECH Trading Down 0.7%

Shares of CMBT stock opened at $12.88 on Wednesday. The company has a market cap of $2.59 billion, a PE ratio of 19.82 and a beta of -0.03. CMB.TECH has a 1 year low of $7.78 and a 1 year high of $14.93. The stock's 50 day simple moving average is $13.10 and its two-hundred day simple moving average is $11.33. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.86 and a quick ratio of 0.79.

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

Institutional Investors Weigh In On CMB.TECH

A number of institutional investors and hedge funds have recently modified their holdings of CMBT. SG Americas Securities LLC bought a new position in CMB.TECH in the 3rd quarter valued at $1,485,000. Folketrygdfondet bought a new stake in shares of CMB.TECH during the third quarter worth $51,651,000. Graham Capital Wealth Management LLC lifted its position in shares of CMB.TECH by 36.3% during the fourth quarter. Graham Capital Wealth Management LLC now owns 437,222 shares of the company's stock worth $4,219,000 after purchasing an additional 116,500 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of CMB.TECH during the third quarter valued at $494,000. Finally, AdvisorShares Investments LLC purchased a new stake in shares of CMB.TECH during the third quarter valued at $511,000.

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. As of March 15, 2024, Euronav NV operates as subsidiary of CMB NV.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.