Euronav NV (NYSE:EURN) Raises Dividend to $0.34 Per Share

Euronav NV (NYSE:EURN) announced a dividend on Thursday, July 4th, NASDAQ reports. Stockholders of record on Wednesday, July 10th will be paid a dividend of 0.34 per share by the shipping company on Thursday, July 18th. The ex-dividend date of this dividend is Wednesday, July 10th. This is an increase from Euronav’s previous dividend of $0.22.

Euronav has raised its dividend payment by an average of 21.3% annually over the last three years. Euronav has a payout ratio of 59.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Up 0.1 %

EURN traded up $0.02 during trading on Thursday, reaching $16.82. 99,913 shares of the company were exchanged, compared to its average volume of 160,586. Euronav has a 52 week low of $14.10 and a 52 week high of $21.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.46 and a quick ratio of 1.41. The firm has a 50 day moving average of $17.11 and a 200 day moving average of $17.21.

Euronav (NYSE:EURN) last released its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). Euronav had a return on equity of 23.36% and a net margin of 103.93%. The firm had revenue of $203.46 million for the quarter, compared to the consensus estimate of $195.96 million. As a group, equities research analysts expect that Euronav will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group restated a “hold” rating and issued a $18.00 price target on shares of Euronav in a research note on Wednesday, May 8th. StockNews.com downgraded Euronav from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.