Scorpio Tankers (STNG) Trading Up 6.3%

Scorpio Tankers Inc. (NYSE:STNG)’s share price was up 6.3% during mid-day trading on Tuesday . The stock traded as high as $3.20 and last traded at $3.19. Approximately 4,407,413 shares were traded during trading, an increase of 39% from the average daily volume of 3,180,201 shares. The stock had previously closed at $3.00.

A number of equities research analysts have commented on STNG shares. Jefferies Group restated a “buy” rating and set a $5.50 target price on shares of Scorpio Tankers in a research note on Tuesday, October 31st. Stifel Nicolaus set a $7.00 target price on shares of Scorpio Tankers and gave the stock a “buy” rating in a research note on Sunday, October 29th. Credit Suisse Group restated a “buy” rating and set a $7.00 target price on shares of Scorpio Tankers in a research note on Tuesday, September 19th. UBS upgraded shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. Scorpio Tankers currently has an average rating of “Buy” and an average price target of $6.33.

The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The business had revenue of $123.20 million during the quarter, compared to analysts’ expectations of $129.54 million. During the same period last year, the business posted ($0.11) earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities research analysts anticipate that Scorpio Tankers Inc. will post -0.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be given a $0.01 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.25%. Scorpio Tankers’s dividend payout ratio is presently -5.06%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Scorpio Tankers by 5.5% in the third quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock worth $57,839,000 after buying an additional 875,100 shares during the last quarter. Monarch Alternative Capital LP bought a new stake in shares of Scorpio Tankers during the third quarter worth $32,371,000. FMR LLC lifted its position in shares of Scorpio Tankers by 160.9% during the second 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 during the last quarter. Lasry Marc bought a new stake in shares of Scorpio Tankers during the third quarter worth $19,205,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Scorpio Tankers by 656.7% during the third quarter. Bank of New York Mellon Corp now owns 4,850,603 shares of the shipping company’s stock worth $16,637,000 after purchasing an additional 4,209,596 shares during the last quarter. Institutional investors own 59.06% of the company’s stock.

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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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