Scorpio Tankers Inc. (STNG) Earns “Buy” Rating from Stifel Nicolaus
Stifel Nicolaus reiterated their buy rating on shares of Scorpio Tankers Inc. (NASDAQ:STNG) in a report released on Wednesday morning. They currently have a $7.00 target price on the shipping company’s stock, down from their previous target price of $8.00.
Several other equities research analysts have also recently commented on the stock. BidaskClub upgraded shares of Scorpio Tankers from a strong sell rating to a sell rating in a research report on Friday, August 25th. Jefferies Group LLC reiterated a buy rating and issued a $5.50 price target (down from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. Credit Suisse Group set a $7.00 price target on shares of Scorpio Tankers and gave the stock a buy rating in a research report on Wednesday, May 24th. Seaport Global Securities reiterated a buy rating and issued a $7.50 price target on shares of Scorpio Tankers in a research report on Thursday, May 25th. Finally, Zacks Investment Research cut shares of Scorpio Tankers from a hold rating to a sell rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $6.33.
Scorpio Tankers (STNG) opened at 3.59 on Wednesday. The company has a 50 day moving average of $3.58 and a 200-day moving average of $3.91. The firm’s market cap is $651.15 million. Scorpio Tankers has a one year low of $3.20 and a one year high of $5.01.
Scorpio Tankers (NASDAQ:STNG) last issued its quarterly earnings results on Monday, September 18th. The shipping company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Scorpio Tankers had a negative return on equity of 3.53% and a negative net margin of 9.39%. The business had revenue of $118.40 million during the quarter, compared to the consensus estimate of $130.03 million. The company’s revenue was down 13.7% compared to the same quarter last year. On average, equities research analysts predict that Scorpio Tankers will post ($0.10) earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 25th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.11%. The ex-dividend date is Friday, September 22nd.
A number of institutional investors and hedge funds have recently modified their holdings of STNG. FMR LLC increased its stake in Scorpio Tankers by 160.9% in the 2nd quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock worth $29,710,000 after purchasing an additional 4,615,440 shares in the last quarter. Impala Asset Management LLC purchased a new position in Scorpio Tankers in the 1st quarter worth about $14,042,000. Laurion Capital Management LP purchased a new position in Scorpio Tankers in the 2nd quarter worth about $7,943,000. Solus Alternative Asset Management LP purchased a new position in Scorpio Tankers in the 2nd quarter worth about $4,963,000. Finally, Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,987,443 shares of the shipping company’s stock worth $63,471,000 after purchasing an additional 1,247,930 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, 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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