Scorpio Tankers Now Covered by Analysts at Pareto Securities (STNG)
Equities research analysts at Pareto Securities started coverage on shares of Scorpio Tankers (NASDAQ: STNG) in a research note issued to investors on Wednesday. The firm set a “buy” rating on the stock.
The analysts wrote, “With 28 eco-friendly product tankers under construction, Scorpio Tankers is developing from a modest three-tanker fleet three years ago to one of the world’s largest tanker companies. With a solid balance sheet, a state-of-the-art fleet and pure product exposure we believe that Scorpio will surf on top of an expected market recovery over the next couple of years. We initiate coverage on Scorpio with a BUY recommendation and TP USD 10, based on an expected asset value increase and merited premium to steel values.”
Several other analysts have also recently commented on the stock. Analysts at Sidoti initiated coverage on shares of Scorpio Tankers in a research note to investors on Wednesday. They set a “buy” rating and a $13.00 price target on the stock. Separately, analysts at Dahlman Rose reiterated a “buy” rating on shares of Scorpio Tankers in a research note to investors on Wednesday, February 27th. They now have a $11.00 price target on the stock. Finally, analysts at RS Platou raised their price target on shares of Scorpio Tankers to $12.00 in a research note to investors on Wednesday, February 27th.
Scorpio Tankers traded down 3.87% on Wednesday, hitting $8.20. Scorpio Tankers has a 1-year low of $5.14 and a 1-year high of $8.81. The stock’s 50-day moving average is currently $8.2. The company’s market cap is $377.9 million.
Scorpio Tankers last released its earnings data on Monday, February 25th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.03. The company had revenue of $30.10 million for the quarter, compared to the consensus estimate of $22.64 million. The company’s revenue for the quarter was up 33.2% on a year-over-year basis.
Scorpio Tankers Inc. is engaged in seaborne transportation of crude oil and refined petroleum products in the international shipping markets.
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