CMB.TECH (NYSE:CMBT) Hits New 1-Year High - Still a Buy?

Key Points

• CMB.TECH shares reached a new 52-week high of $19.91, with the stock last trading near $19.25 and significantly above its 50-day and 200-day moving averages.
• Analyst sentiment remains positive overall, with two Strong Buy ratings and one Hold rating producing a consensus Buy recommendation, despite a recent downgrade from Buy to Hold.
• The company reported quarterly EPS of $1.26 on $703.94 million in revenue, alongside a 37.19% net margin and 30.02% return on equity; major institutional investors including Vanguard and Encompass Capital also increased their positions.

Shares of CMB.TECH nv (NYSE:CMBT - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $19.91 and last traded at $19.2470, with a volume of 1448348 shares. The stock had previously closed at $19.49.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CMBT shares. Weiss Ratings restated a "hold (c+)" rating on shares of CMB.TECH in a report on Tuesday, August 25th. Wall Street Zen downgraded shares of CMB.TECH from a "buy" rating to a "hold" rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

CMB.TECH Stock Performance

The company has a 50 day moving average of $16.57 and a two-hundred day moving average of $14.94. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.12 and a quick ratio of 0.97. The company has a market capitalization of $3.84 billion, a PE ratio of 6.61 and a beta of 0.14.

CMB.TECH (NYSE:CMBT - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $1.26 EPS for the quarter. The firm had revenue of $703.94 million for the quarter. CMB.TECH had a net margin of 37.19% and a return on equity of 30.02%.

Institutional Investors Weigh In On CMB.TECH

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of CMB.TECH by 3,042.0% during the third quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company's stock valued at $40,701,000 after purchasing an additional 4,107,637 shares in the last quarter. Encompass Capital Advisors LLC grew its stake in shares of CMB.TECH by 40.0% in the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company's stock worth $44,275,000 after buying an additional 1,000,693 shares during the last quarter. Goldman Sachs Group Inc. increased its position in 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 buying an additional 496,086 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in CMB.TECH during the 1st quarter valued at approximately $28,965,000. Finally, Norges Bank purchased a new position in CMB.TECH during the fourth quarter valued at $21,956,000.

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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