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Crude Oil Tanker Stocks: Estimates, Recommendations for 2Q17

PART:
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Part 11
Crude Oil Tanker Stocks: Estimates, Recommendations for 2Q17 PART 11 OF 11

Analysts’ Consensus Recommendation for Euronav: A ‘Buy’

Consensus recommendations

Currently, 13 analysts have given recommendations for Euronav (EURN). The consensus rating on the stock is 2.2, which means a “buy.”

Analysts&#8217; Consensus Recommendation for Euronav: A &#8216;Buy&#8217;

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Below are the consensus ratings for some of the company’s peers:

  • Nordic American Tankers (NAT): 3.6, or a “sell”
  • Teekay Tankers (TNK): 2.9, or a “hold”
  • Gener8 Maritime Partners (GNRT): 2.0, or a “buy”
  • Frontline (FRO): 2.8, or a “hold”

Of the 13 analysts covering EURN stock, nine of them, or 69.0%, are bullish on the stock. Two have given it a “strong buy” recommendation, and seven have given it a “buy.” Four analysts suggest a “hold.” The consensus target price is $9.89, which implies an upside of 28.4% from the current price of $7.69 on July 10, 2017.

Revenue and earnings estimates

Euronav’s 2Q17 results are expected to be released on July 26, 2017. Wall Street analysts estimate that Euronav’s revenue will be $120.0 million in the second quarter compared to $164.0 million in 1Q17 and $189.0 million in 2Q16. In the first quarter, Euronav’s revenue was 40.0% lower year-over-year.

EBITDA (earnings before interest, tax, depreciation, and amortization) is also expected to be lower. Analysts expect 2Q17 EBITDA to be $58.0 million compared to $101.0 million in 1Q17 and $106.0 million in 2Q16.

For fiscal 2017, analysts expect Euronav’s revenue to be $512.0 million, which is 25.0% lower than 2016 revenue of $684.0 million. The 2017 EBITDA estimate stands at $260.0 million, which is lower than 2016 EBITDA of $476.0 million.

For more news on the crude oil tanker industry, be sure to check out Market Realist’s Crude Tankers page.

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