CMB.TECH (NYSE:CMBT) Hits New 12-Month High – Here’s Why

Shares of CMB.TECH nv (NYSE:CMBT) hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.96 and last traded at $17.8110, with a volume of 145067 shares. The stock had previously closed at $17.49.

Wall Street Analysts Forecast Growth

CMBT has been the subject of several research reports. Wall Street Zen raised CMB.TECH from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Berenberg Bank raised shares of CMB.TECH to a “strong-buy” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised CMB.TECH from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy”.

CMB.TECH Price Performance

The stock has a fifty day simple moving average of $15.49 and a two-hundred day simple moving average of $14.34. The company has a market cap of $3.57 billion, a PE ratio of 10.58 and a beta of 0.12. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 1.59.

CMB.TECH (NYSE:CMBT) last released its earnings results on Tuesday, May 19th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $1.00. CMB.TECH had a return on equity of 18.25% and a net margin of 24.94%.The company had revenue of $519.63 million during the quarter, compared to the consensus estimate of $422.43 million.

CMB.TECH Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 3rd were issued a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. CMB.TECH’s dividend payout ratio is 36.69%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Optiver Holding B.V. increased its position in CMB.TECH by 145.7% during the first quarter. Optiver Holding B.V. now owns 12,473 shares of the company’s stock worth $158,000 after buying an additional 7,397 shares in the last quarter. Bank of America Corp DE lifted its position in CMB.TECH by 526.9% during the first quarter. Bank of America Corp DE now owns 1,072,822 shares of the company’s stock worth $13,571,000 after buying an additional 901,688 shares during the period. Amundi acquired a new position in shares of CMB.TECH during the 1st quarter valued at about $246,000. Encompass Capital Advisors LLC lifted its holdings in shares of CMB.TECH by 40.0% during the 1st quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock worth $44,275,000 after acquiring an additional 1,000,693 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in CMB.TECH by 288.5% in the first quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock valued at $17,815,000 after acquiring an additional 1,045,800 shares during the last quarter.

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.