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Analysts’ Estimates before Euronav’s Q2 2018 Results

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Jul. 16 2018, Updated 7:34 a.m. ET

Consensus ratings

According to Reuters, the consensus rating for Euronav (EURN) is 2, which means a “buy.” Of the ten analysts that gave recommendations on Euronav, 80.0% are bullish on the stock—two analysts gave Euronav a “strong buy,” and six analysts gave it a “buy.” Plus, two analysts (20.0%) are neutral and gave it a “hold” rating. None of the analysts recommended a “strong sell” or “sell” for Euronav. 

The consensus 12-month target price for Euronav is $10.89, which implies a potential upside of 22.36% from its market price on July 12.

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Revenue and earnings estimates

Euronav is generally among the first few crude tanker companies to release its quarterly results. According to Reuters’ consensus estimate, Euronav’s revenues are expected to reach $74.97 million in the second quarter. This compares to $126.4 million in the second quarter of 2017 and $98.14 million in the first quarter. This represents a fall of 40.7% YoY (year-over-year).

For fiscal 2018, analysts expect Euronav’s revenues to reach $460.8 million, which is 10.24% lower than its 2017 revenues of $513.0 million. Analysts have revised downward their 2018 revenue estimate for Euronav after its first-quarter results.

Below are the second-quarter revenue estimates for Euronav’s peers:

  • Frontline (FRO): $75.8 million, 15.7% lower YoY
  • DHT Holdings (DHT): $36.4 million, 38.9% lower YoY
  • Nordic American Tankers (NAT): $26.02 million, 33.4% lower YoY
  • Navios Maritime Midstream Partners (NAP): $21.14 million, 14.2% lower YoY

Euronav expects its EBITDA to be lower quarter-over-quarter from the past year. Analysts expect its second-quarter EBITDA to reach $11.9 million. This compares to $25.7 million in the first quarter and $43.5 million in the second quarter of 2017. Its 2018 EBITDA estimate stands at $161.3 million, which is lower than its 2017 EBITDA of $227.0 million.

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