Scorpio Tankers Inc. (STNG) Stock Rating Lowered by TheStreet
A number of other equities analysts also recently commented on STNG. Credit Suisse Group reissued a buy rating and issued a $7.00 price objective on shares of Scorpio Tankers in a research note on Monday, October 17th. Zacks Investment Research raised shares of Scorpio Tankers from a sell rating to a hold rating in a research note on Saturday, October 29th. Deutsche Bank AG downgraded shares of Scorpio Tankers from a buy rating to a hold rating and reduced their price objective for the stock from $9.00 to $4.00 in a research note on Tuesday, November 15th. Jefferies Group LLC reissued a buy rating and issued a $6.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, November 16th. Finally, Bank of America Corporation downgraded shares of Scorpio Tankers from a buy rating to an underperform rating and reduced their price objective for the stock from $5.75 to $4.00 in a research note on Tuesday, January 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Scorpio Tankers presently has an average rating of Hold and a consensus price target of $6.94.
Scorpio Tankers (NASDAQ:STNG) opened at 4.18 on Monday. The company’s market capitalization is $676.61 million. Scorpio Tankers has a 12-month low of $3.50 and a 12-month high of $6.70. The stock’s 50 day moving average price is $4.19 and its 200 day moving average price is $4.48.
Scorpio Tankers (NASDAQ:STNG) last issued its quarterly earnings data on Monday, February 13th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. The business earned $105.60 million during the quarter, compared to the consensus estimate of $103.95 million. The business’s quarterly revenue was down 40.5% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. On average, equities analysts anticipate that Scorpio Tankers will post $0.14 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, February 23rd will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, February 21st.
A number of institutional investors have recently added to or reduced their stakes in STNG. Boston Partners raised its position in Scorpio Tankers by 6.7% in the third quarter. Boston Partners now owns 2,859,710 shares of the company’s stock valued at $13,241,000 after buying an additional 178,740 shares in the last quarter. Putnam FL Investment Management Co. raised its position in Scorpio Tankers by 19.3% in the second quarter. Putnam FL Investment Management Co. now owns 33,695 shares of the company’s stock valued at $142,000 after buying an additional 5,460 shares in the last quarter. PEAK6 Investments L.P. raised its position in Scorpio Tankers by 469.7% in the second quarter. PEAK6 Investments L.P. now owns 36,966 shares of the company’s stock valued at $155,000 after buying an additional 46,966 shares in the last quarter. Bank of Montreal Can raised its position in Scorpio Tankers by 14,653.5% in the third quarter. Bank of Montreal Can now owns 69,489 shares of the company’s stock valued at $322,000 after buying an additional 69,018 shares in the last quarter. Finally, Synovus Financial Corp raised its position in Scorpio Tankers by 52.3% in the third quarter. Synovus Financial Corp now owns 21,675 shares of the company’s stock valued at $100,000 after buying an additional 7,445 shares in the last quarter.
About Scorpio Tankers
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers, which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.
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