Euronav NV (NYSE:EURN) Increases Dividend to $0.34 Per Share

Euronav NV (NYSE:EURN) announced a dividend on Thursday, July 4th, NASDAQ reports. Stockholders of record on Wednesday, July 10th will be paid a dividend of 0.34 per share by the shipping company on Thursday, July 18th. The ex-dividend date is Wednesday, July 10th. This is a positive change from Euronav’s previous dividend of $0.22.

Euronav has raised its dividend payment by an average of 21.3% annually over the last three years. Euronav has a payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Euronav to earn $1.27 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 85.0%.

Euronav Price Performance

Shares of NYSE EURN traded up $0.02 during trading hours on Thursday, reaching $16.82. The stock had a trading volume of 99,913 shares, compared to its average volume of 160,586. Euronav has a twelve month low of $14.10 and a twelve month high of $21.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.41 and a current ratio of 1.46. The business’s fifty day moving average is $17.11 and its two-hundred day moving average is $17.21.

Euronav (NYSE:EURN) last announced its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Euronav had a net margin of 103.93% and a return on equity of 23.36%. The business had revenue of $203.46 million during the quarter, compared to analyst estimates of $195.96 million. As a group, equities analysts anticipate that Euronav will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on EURN shares. StockNews.com cut shares of Euronav from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Jefferies Financial Group restated a “hold” rating and set a $18.00 target price on shares of Euronav in a research report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.18.

Euronav 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.