Scorpio Tankers (NYSE:STNG) Rating Lowered to Hold at Zacks Research

Scorpio Tankers (NYSE:STNG) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Evercore reaffirmed an “outperform” rating and set a $98.00 price target on shares of Scorpio Tankers in a research report on Wednesday, May 27th. Bank of America raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and upped their price target for the stock from $76.00 to $100.00 in a research report on Thursday, May 7th. BTIG Research upped their price target on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Jefferies Financial Group began coverage on shares of Scorpio Tankers in a research report on Friday, April 24th. They set a “buy” rating and a $90.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.50.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $78.64 on Monday. The stock has a fifty day moving average price of $78.47 and a 200 day moving average price of $68.66. The stock has a market cap of $3.96 billion, a PE ratio of 7.73 and a beta of -0.26. Scorpio Tankers has a 1 year low of $38.83 and a 1 year high of $87.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.87 and a current ratio of 13.98.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.23. The company had revenue of $312.86 million during the quarter, compared to the consensus estimate of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.Scorpio Tankers’s revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. Sell-side analysts forecast that Scorpio Tankers will post 11.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Scorpio Tankers by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock worth $165,064,000 after buying an additional 7,868 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Scorpio Tankers by 7.1% in the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after acquiring an additional 83,294 shares in the last quarter. Ticino Wealth acquired a new position in shares of Scorpio Tankers in the fourth quarter worth about $9,526,000. DNB Asset Management AS boosted its holdings in Scorpio Tankers by 828.3% in the third quarter. DNB Asset Management AS now owns 306,299 shares of the shipping company’s stock valued at $17,171,000 after purchasing an additional 273,302 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Scorpio Tankers by 7.6% in the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock valued at $107,265,000 after purchasing an additional 135,123 shares during the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.