CMB.TECH (NYSE:CMBT) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

by · The Cerbat Gem

CMB.TECH (NYSE:CMBT – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04), reports. CMB.TECH had a return on equity of 6.02% and a net margin of 22.69%.The firm had revenue of $460.80 million during the quarter, compared to analyst estimates of $393.37 million.

CMB.TECH Stock Up 0.2%

Shares of NYSE:CMBT opened at $10.18 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $1.98 billion, a P/E ratio of 8.21 and a beta of -0.02. CMB.TECH has a 52-week low of $7.65 and a 52-week high of $12.00. The stock’s fifty day simple moving average is $9.55 and its 200-day simple moving average is $9.30.

CMB.TECH Dividend Announcement

The business also recently declared a special dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, January 7th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, January 7th. CMB.TECH’s payout ratio is 2.42%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH during the second quarter worth about $27,000. Public Employees Retirement System of Ohio purchased a new position in shares of CMB.TECH during the third quarter valued at approximately $45,000. Sunbelt Securities Inc. acquired a new stake in CMB.TECH during the third quarter worth approximately $56,000. Legal & General Group Plc grew its stake in CMB.TECH by 221.3% in the 2nd quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock worth $59,000 after acquiring an additional 4,497 shares during the period. Finally, Vise Technologies Inc. acquired a new position in CMB.TECH in the 3rd quarter valued at $94,000.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of CMB.TECH in a research report on Monday. Wall Street Zen downgraded CMB.TECH from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

View Our Latest Analysis on CMB.TECH

About CMB.TECH

(Get Free Report)

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.

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