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

Key Points

• CMB.TECH exceeded earnings expectations, reporting quarterly EPS of $1.26 versus the analyst consensus of $0.88. The company posted an 18.25% return on equity and a 24.94% net margin.
• Shares opened at $17.63, near the 12-month high of $18.52, giving the company a $3.52 billion market capitalization and a P/E ratio of 10.43.
• Analyst sentiment is generally positive: two analysts rate the stock a Strong Buy and one rates it Hold, resulting in a current average rating of Buy.

CMB.TECH (NYSE:CMBT - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.38, Zacks reports. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.

CMB.TECH Price Performance

Shares of CMBT opened at $17.63 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.59. The stock's 50 day moving average is $15.84 and its two-hundred day moving average is $14.57. CMB.TECH has a twelve month low of $7.86 and a twelve month high of $18.52. The firm has a market capitalization of $3.52 billion, a PE ratio of 10.43 and a beta of 0.12.

Institutional Trading of CMB.TECH

Several hedge funds have recently modified their holdings of the business. Mcguire Capital Advisors Inc. purchased a new stake in shares of CMB.TECH in the fourth quarter valued at approximately $26,000. Raymond James Financial Inc. purchased a new position in CMB.TECH in the second quarter worth $27,000. Public Employees Retirement System of Ohio purchased a new position in CMB.TECH in the third quarter worth $45,000. Sunbelt Securities Inc. acquired a new stake in CMB.TECH in the third quarter valued at $56,000. Finally, Legal & General Group Plc lifted its holdings in CMB.TECH by 221.3% in 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 during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CMBT shares. Weiss Ratings restated a "hold (c+)" rating on shares of CMB.TECH in a research note on Tuesday. Wall Street Zen raised CMB.TECH from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy".

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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