Scorpio Tankers Inc. (NASDAQ:STNG) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
STNG has been the topic of a number of other research reports. Stifel Nicolaus set a $8.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, August 28th. Jefferies Group LLC reiterated a “buy” rating and set a $5.50 price target (down previously from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Zacks Investment Research cut shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Finally, Credit Suisse Group reiterated a “buy” rating and set a $7.00 price target on shares of Scorpio Tankers in a report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Scorpio Tankers presently has an average rating of “Buy” and a consensus price target of $6.33.
Scorpio Tankers (STNG) opened at 3.62 on Friday. The firm’s market cap is $656.59 million. Scorpio Tankers has a 1-year low of $3.20 and a 1-year high of $4.93. The firm’s 50-day moving average price is $3.54 and its 200-day moving average price is $3.78.
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 the Zacks’ consensus estimate of ($0.05) by ($0.04). The business had revenue of $118.40 million during the quarter, compared to analysts’ expectations of $130.03 million. Scorpio Tankers had a negative return on equity of 19.98% and a negative net margin of 57.63%. The business’s revenue was down 13.7% compared to the same quarter last year. Equities research analysts anticipate that Scorpio Tankers will post ($0.17) earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Scorpio Tankers by 191.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,016,668 shares of the shipping company’s stock worth $4,514,000 after purchasing an additional 667,860 shares during the last quarter. American International Group Inc. boosted its holdings in Scorpio Tankers by 7.1% in the first quarter. American International Group Inc. now owns 100,667 shares of the shipping company’s stock worth $447,000 after purchasing an additional 6,647 shares during the last quarter. Front Barnett Associates LLC purchased a new stake in Scorpio Tankers in the second quarter worth approximately $1,583,000. Tricadia Capital Management LLC boosted its holdings in Scorpio Tankers by 5.3% in the second quarter. Tricadia Capital Management LLC now owns 2,961,414 shares of the shipping company’s stock worth $11,757,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Scorpio Tankers by 58.4% in the first quarter. Geode Capital Management LLC now owns 433,147 shares of the shipping company’s stock worth $1,923,000 after purchasing an additional 159,649 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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