CMB.TECH (NYSE:CMBT) Reaches New 52-Week High – Time to Buy?

CMB.TECH nv (NYSE:CMBT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $13.16 and last traded at $12.5980, with a volume of 2806706 shares changing hands. The stock had previously closed at $12.92.

Analysts Set New Price Targets

CMBT has been the subject of a number of research reports. Wall Street Zen cut CMB.TECH from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings upgraded CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 14th. Finally, Pareto Securities upgraded shares of CMB.TECH to a “strong-buy” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

CMB.TECH Stock Down 1.5%

The firm’s 50-day simple moving average is $10.62 and its two-hundred day simple moving average is $9.74. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.73 and a quick ratio of 0.61. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 15.66 and a beta of -0.08.

CMB.TECH (NYSE:CMBT) last released its quarterly earnings results on Wednesday, November 26th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.04). CMB.TECH had a return on equity of 4.28% and a net margin of 12.64%.The firm had revenue of $460.80 million during the quarter, compared to analyst estimates of $393.37 million.

CMB.TECH Dividend Announcement

The firm also recently announced a special dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, January 7th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, January 7th. CMB.TECH’s dividend payout ratio (DPR) is 8.54%.

Hedge Funds Weigh In On CMB.TECH

Several hedge funds have recently bought and sold shares of CMBT. Raymond James Financial Inc. purchased a new stake in shares of CMB.TECH in the second quarter valued at $27,000. Public Employees Retirement System of Ohio purchased a new stake in shares of CMB.TECH during the third quarter worth about $45,000. Sunbelt Securities Inc. acquired a new position in shares of CMB.TECH in the third quarter valued at approximately $56,000. Legal & General Group Plc lifted its stake in shares of CMB.TECH by 221.3% during the second quarter. Legal & General Group Plc now owns 6,529 shares of the company’s stock valued at $59,000 after buying an additional 4,497 shares during the period. Finally, Vise Technologies Inc. acquired a new stake in CMB.TECH during the third quarter worth approximately $94,000.

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.