Jefferies Group LLC reissued their buy rating on shares of Scorpio Tankers Inc. (NASDAQ:STNG) in a report released on Tuesday morning. The brokerage currently has a $5.50 price target on the shipping company’s stock.
A number of other equities analysts also recently commented on the company. Stifel Nicolaus set a $7.00 price objective on Scorpio Tankers and gave the stock a buy rating in a report on Sunday, October 29th. BidaskClub cut Scorpio Tankers from a sell rating to a strong sell rating in a research report on Friday, October 27th. Zacks Investment Research cut Scorpio Tankers from a hold rating to a sell rating in a research report on Saturday, October 21st. Finally, Credit Suisse Group reissued a buy rating and issued a $7.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Two equities 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 company. The company currently has an average rating of Buy and an average target price of $6.33.
Scorpio Tankers (NASDAQ STNG) traded down $0.03 during mid-day trading on Tuesday, reaching $3.46. 1,987,449 shares of the company’s stock were exchanged.
Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings results on Monday, September 18th. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The company 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%. Scorpio Tankers’s revenue for the quarter was down 13.7% compared to the same quarter last year.
Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Scorpio Tankers by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,987,443 shares of the shipping company’s stock valued at $63,471,000 after purchasing an additional 1,247,930 shares in the last quarter. FMR LLC lifted 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 valued at $29,710,000 after acquiring an additional 4,615,440 shares in the last quarter. Boston Partners lifted its stake in Scorpio Tankers by 7.6% in the 3rd quarter. Boston Partners now owns 4,591,488 shares of the shipping company’s stock valued at $15,749,000 after acquiring an additional 325,600 shares in the last quarter. Investec Asset Management LTD lifted its stake in Scorpio Tankers by 6.3% in the 2nd quarter. Investec Asset Management LTD now owns 4,080,901 shares of the shipping company’s stock valued at $16,201,000 after acquiring an additional 241,429 shares in the last quarter. Finally, State Street Corp lifted its stake in Scorpio Tankers by 7.5% in the 2nd quarter. State Street Corp now owns 3,071,094 shares of the shipping company’s stock valued at $12,191,000 after acquiring an additional 213,718 shares in 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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