CMB.TECH (NYSE:CMBT) Sets New 12-Month High – Should You Buy?

CMB.TECH nv (NYSE:CMBT)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $11.94 and last traded at $11.8250, with a volume of 257872 shares. The stock had previously closed at $11.52.

Analyst Ratings Changes

CMBT has been the topic of several research reports. Wall Street Zen upgraded shares of CMB.TECH from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Pareto Securities upgraded CMB.TECH to a “strong-buy” rating in a research report on Friday, November 28th. Finally, Weiss Ratings raised CMB.TECH from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

CMB.TECH Stock Up 2.3%

The company has a market cap of $2.24 billion, a price-to-earnings ratio of 14.36 and a beta of -0.08. The stock has a 50-day simple moving average of $10.37 and a 200-day simple moving average of $9.63. The company has a current ratio of 0.73, a quick ratio of 0.61 and a debt-to-equity ratio of 1.96.

CMB.TECH (NYSE:CMBT) last issued its quarterly earnings data 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). The company had revenue of $460.80 million for the quarter, compared to the consensus estimate of $393.37 million. CMB.TECH had a net margin of 12.64% and a return on equity of 4.28%.

CMB.TECH Dividend Announcement

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

Institutional Investors Weigh In On CMB.TECH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMBT. Folketrygdfondet bought a new position in CMB.TECH during the 3rd quarter valued at $51,651,000. Vanguard Group Inc. raised its stake in shares of CMB.TECH by 3,042.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,242,670 shares of the company’s stock worth $40,701,000 after buying an additional 4,107,637 shares in the last quarter. Mirabella Financial Services LLP bought a new position in CMB.TECH during the third quarter valued at about $22,386,000. Marshall Wace LLP bought a new position in CMB.TECH during the third quarter valued at about $17,428,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in CMB.TECH during the third quarter worth about $12,024,000.

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.