CMB.TECH (NYSE:CMBT) Hits New 1-Year High Following Earnings Beat

Key Points

• CMB.TECH shares hit a new 52-week high, rising to $18.85 after the company reported quarterly EPS of $1.26, well above the $0.88 analyst consensus.
• Quarterly revenue reached $703.94 million, exceeding expectations of $574.37 million; the company also reported an 18.25% return on equity and a 24.94% net margin.
• Analyst sentiment is generally positive, with a consensus “Buy” rating, while major institutional investors—including Vanguard, Goldman Sachs, and Norges Bank—recently increased or initiated positions.

CMB.TECH nv (NYSE:CMBT - Get Free Report) shares reached a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $18.85 and last traded at $18.67, with a volume of 130841 shares. The stock had previously closed at $18.28.

The company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.38. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.The business had revenue of $703.94 million during the quarter, compared to analysts' expectations of $574.37 million.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of CMB.TECH from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of CMB.TECH in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CMB.TECH presently has a consensus rating of "Buy".

Hedge Funds Weigh In On CMB.TECH

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in CMB.TECH by 3,042.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company's stock valued at $40,701,000 after acquiring an additional 4,107,637 shares during the last quarter. Encompass Capital Advisors LLC boosted its holdings in shares of CMB.TECH by 40.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company's stock valued at $44,275,000 after purchasing an additional 1,000,693 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of CMB.TECH by 21.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,849,002 shares of the company's stock valued at $27,493,000 after purchasing an additional 496,086 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of CMB.TECH during the 1st quarter valued at about $28,965,000. Finally, Norges Bank purchased a new position in shares of CMB.TECH during the fourth quarter valued at about $21,956,000.

CMB.TECH Trading Up 1.2%

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 has a 50-day moving average price of $15.91 and a two-hundred day moving average price of $14.61. The stock has a market cap of $3.69 billion, a PE ratio of 10.95 and a beta of 0.12.

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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