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.
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.