Brokerages Anticipate Scorpio Tankers Inc. (NASDAQ:STNG) Will Post Quarterly Sales of $135.84 Million
Equities research analysts predict that Scorpio Tankers Inc. (NASDAQ:STNG) will post sales of $135.84 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Scorpio Tankers’ earnings, with the highest sales estimate coming in at $165.60 million and the lowest estimate coming in at $121.32 million. Scorpio Tankers posted sales of $137.21 million during the same quarter last year, which would indicate a negative year over year growth rate of 1%. The firm is expected to report its next quarterly earnings report on Thursday, August 10th.
On average, analysts expect that Scorpio Tankers will report full year sales of $135.84 million for the current fiscal year, with estimates ranging from $569.15 million to $706.15 million. For the next year, analysts forecast that the firm will post sales of $856.07 million per share, with estimates ranging from $766.98 million to $1.02 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Scorpio Tankers.
A number of research analysts recently weighed in on STNG shares. Credit Suisse Group set a $7.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.50 price objective (down previously from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. Seaport Global Securities reaffirmed a “buy” rating and set a $7.50 price objective on shares of Scorpio Tankers in a research report on Thursday, May 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $8.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 25th. Finally, Bank of America Corporation raised Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Friday, May 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. Scorpio Tankers has an average rating of “Buy” and an average price target of $6.44.
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Shares of Scorpio Tankers (NASDAQ STNG) traded down 0.56% during midday trading on Tuesday, reaching $3.54. The company had a trading volume of 1,202,073 shares. The company’s market capitalization is $576.00 million. Scorpio Tankers has a one year low of $3.42 and a one year high of $5.53. The company has a 50-day moving average price of $3.82 and a 200 day moving average price of $4.02.
Several hedge funds have recently bought and sold shares of STNG. Principal Financial Group Inc. raised its stake in Scorpio Tankers by 15.0% in the first quarter. Principal Financial Group Inc. now owns 25,836 shares of the shipping company’s stock worth $115,000 after buying an additional 3,377 shares during the last quarter. Jane Street Group LLC acquired a new stake in Scorpio Tankers during the first quarter worth approximately $129,000. Nisa Investment Advisors LLC acquired a new stake in Scorpio Tankers during the first quarter worth approximately $158,000. Karp Capital Management Corp acquired a new stake in Scorpio Tankers during the first quarter worth approximately $164,000. Finally, KCG Holdings Inc. raised its stake in Scorpio Tankers by 238.6% in the first quarter. KCG Holdings Inc. now owns 45,238 shares of the shipping company’s stock worth $201,000 after buying an additional 31,877 shares during the last quarter.
Scorpio Tankers Company Profile
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, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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