CMB.TECH (NYSE:CMBT) Shares Gap Down - Here's Why

Key Points

• CMB.TECH shares opened 3.6% lower at $15.18 after previously closing at $15.74, and later traded near $15.42.
• Analyst sentiment remains positive: Berenberg upgraded the stock to “strong buy,” Wall Street Zen raised it to “buy,” and MarketBeat data shows a consensus “buy” rating.
• The company reported strong quarterly results, with EPS of $1.27 versus a $0.27 estimate and revenue of $519.63 million versus expectations of $422.43 million; it also paid a special $0.44-per-share dividend.

Shares of CMB.TECH nv (NYSE:CMBT - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $15.74, but opened at $15.18. CMB.TECH shares last traded at $15.42, with a volume of 99,208 shares traded.

Analyst Ratings Changes

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

CMB.TECH Stock Down 2.1%

The company has a debt-to-equity ratio of 1.59, a current ratio of 0.95 and a quick ratio of 0.85. The stock's fifty day simple moving average is $15.28 and its 200-day simple moving average is $13.76. The stock has a market cap of $3.07 billion, a P/E ratio of 9.12 and a beta of 0.12.

CMB.TECH (NYSE:CMBT - Get Free Report) last posted its earnings results on Tuesday, May 19th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $0.27 by $1.00. The company had revenue of $519.63 million during 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 business also recently announced a special dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 3rd were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. CMB.TECH's dividend payout ratio (DPR) is currently 36.69%.

Institutional Investors Weigh In On CMB.TECH

A number of hedge funds have recently added to or reduced their stakes in the stock. Mcguire Capital Advisors Inc. bought a new position in shares of CMB.TECH during the fourth quarter worth about $26,000. Raymond James Financial Inc. bought a new stake in CMB.TECH in the 2nd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in CMB.TECH during the 4th quarter valued at about $29,000. Valley Wealth Managers Inc. acquired a new position in CMB.TECH during the 1st quarter valued at about $33,000. Finally, Public Employees Retirement System of Ohio bought a new position in CMB.TECH in the 3rd quarter worth about $45,000.

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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