Scorpio Tankers Inc. (NASDAQ:STNG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. The Company’s initial fleet consists of three modern panamax tankers. Its vessels carry petroleum products and crude oil for integrated oil companies, oil traders, and other customers. Scorpio Tankers Inc. is headquartered in Monaco, Scorpio. “

A number of other equities research analysts have also weighed in on STNG. Jefferies Group LLC reissued a “buy” rating and set a $6.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 25th. Credit Suisse Group set a $7.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Wednesday, May 24th. Stifel Nicolaus reissued a “buy” rating and set a $8.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 25th. Seaport Global Securities reissued a “buy” rating and set a $7.50 price objective on shares of Scorpio Tankers in a report on Thursday, May 25th. Finally, BidaskClub lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. Scorpio Tankers presently has an average rating of “Buy” and an average price target of $6.33.

Scorpio Tankers (NASDAQ STNG) opened at 3.44 on Wednesday. The stock has a 50 day moving average price of $3.58 and a 200-day moving average price of $3.91. Scorpio Tankers has a 1-year low of $3.20 and a 1-year high of $5.01. The stock’s market capitalization is $559.73 million.

Scorpio Tankers (NASDAQ:STNG) last announced its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The company had revenue of $118.40 million for the quarter, compared to analysts’ expectations of $130.03 million. Scorpio Tankers had a negative net margin of 9.39% and a negative return on equity of 3.53%. Scorpio Tankers’s revenue was down 13.7% compared to the same quarter last year. Equities research analysts expect that Scorpio Tankers will post ($0.10) EPS for the current year.

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A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in Scorpio Tankers by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 124,670 shares of the shipping company’s stock valued at $495,000 after purchasing an additional 1,315 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Scorpio Tankers by 5.1% in the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock valued at $108,000 after purchasing an additional 1,316 shares during the last quarter. Comerica Securities Inc. boosted its holdings in Scorpio Tankers by 0.5% in the second quarter. Comerica Securities Inc. now owns 423,883 shares of the shipping company’s stock valued at $1,683,000 after purchasing an additional 2,061 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Scorpio Tankers by 0.8% in the second quarter. Wells Fargo & Company MN now owns 558,058 shares of the shipping company’s stock valued at $2,215,000 after purchasing an additional 4,320 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in Scorpio Tankers by 4.0% in the second quarter. Nationwide Fund Advisors now owns 131,118 shares of the shipping company’s stock valued at $521,000 after purchasing an additional 5,041 shares during 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, 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).

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

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