Euronav NV (NYSE:EURN) Plans Dividend Increase – $0.34 Per Share

Euronav NV (NYSE:EURN) declared a quarterly dividend on Thursday, July 4th, NASDAQ reports. Investors of record on Wednesday, July 10th will be given a dividend of 0.34 per share by the shipping company on Thursday, July 18th. This represents a $1.36 annualized dividend and a yield of 7.94%. The ex-dividend date is Wednesday, July 10th. This is a positive change from Euronav’s previous quarterly dividend of $0.22.

Euronav has raised its dividend by an average of 21.3% per year over the last three years. Euronav has a payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Euronav stock opened at $17.12 on Tuesday. The company has a fifty day simple moving average of $17.14 and a 200-day simple moving average of $17.20. The company has a quick ratio of 1.41, a current ratio of 1.46 and a debt-to-equity ratio of 0.60. Euronav has a 52-week low of $14.10 and a 52-week high of $21.26.

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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $195.96 million. As a group, sell-side analysts predict that Euronav will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and set a $18.00 price target on shares of Euronav in a research report on Wednesday, May 8th. StockNews.com cut shares of Euronav from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.18.

About Euronav

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.