B. Riley began coverage on shares of Scorpio Tankers (NYSE:STNG) in a report published on Friday, Marketbeat reports. The brokerage issued a neutral rating and a $2.20 price objective on the shipping company’s stock.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Scorpio Tankers from a hold rating to a sell rating in a research report on Tuesday, July 24th. Morgan Stanley decreased their target price on Scorpio Tankers from $3.00 to $2.70 and set an overweight rating for the company in a research report on Wednesday, August 1st. Bank of America decreased their target price on Scorpio Tankers from $3.75 to $3.00 and set a buy rating for the company in a research report on Wednesday, August 1st. ValuEngine raised Scorpio Tankers from a sell rating to a hold rating in a research report on Friday, August 3rd. Finally, Deutsche Bank set a $4.00 target price on Scorpio Tankers and gave the stock a buy rating in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $3.71.

STNG traded down $0.04 during midday trading on Friday, reaching $1.95. 2,991,679 shares of the company’s stock traded hands, compared to its average volume of 6,011,632. The firm has a market capitalization of $667.46 million, a price-to-earnings ratio of -4.15 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.79 and a quick ratio of 0.77. Scorpio Tankers has a 52 week low of $1.48 and a 52 week high of $3.61.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, October 31st. The shipping company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). The business had revenue of $119.28 million during the quarter, compared to analyst estimates of $117.59 million. Scorpio Tankers had a negative return on equity of 11.07% and a negative net margin of 37.80%. Scorpio Tankers’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) EPS. As a group, sell-side analysts expect that Scorpio Tankers will post -0.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Wednesday, December 5th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Tuesday, December 4th. Scorpio Tankers’s dividend payout ratio is currently -8.51%.

Several large investors have recently made changes to their positions in STNG. Essex Investment Management Co. LLC bought a new position in shares of Scorpio Tankers in the 2nd quarter worth approximately $109,000. Voya Investment Management LLC grew its stake in shares of Scorpio Tankers by 27.0% in the 2nd quarter. Voya Investment Management LLC now owns 111,860 shares of the shipping company’s stock worth $314,000 after buying an additional 23,747 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Scorpio Tankers by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 196,351 shares of the shipping company’s stock worth $385,000 after buying an additional 20,833 shares during the last quarter. Price Capital Management Inc. purchased a new stake in shares of Scorpio Tankers in the 2nd quarter worth approximately $688,000. Finally, Millennium Management LLC grew its stake in shares of Scorpio Tankers by 805.8% in the 2nd quarter. Millennium Management LLC now owns 259,955 shares of the shipping company’s stock worth $730,000 after buying an additional 231,256 shares during the last quarter. 60.48% of the stock is owned by hedge funds and other institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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