ValuEngine Lowers Scorpio Tankers (STNG) to Strong Sell

ValuEngine downgraded shares of Scorpio Tankers (NYSE:STNG) from a sell rating to a strong sell rating in a research note released on Friday morning.

Several other research firms have also issued reports on STNG. Zacks Investment Research lowered Scorpio Tankers from a hold rating to a sell rating in a research report on Saturday, October 21st. Stifel Nicolaus set a $7.00 price target on Scorpio Tankers and gave the company a buy rating in a research report on Sunday, October 29th. Jefferies Group reissued a buy rating and set a $5.50 price target on shares of Scorpio Tankers in a research report on Tuesday, October 31st. BidaskClub lowered Scorpio Tankers from a sell rating to a strong sell rating in a research report on Friday, October 27th. Finally, UBS Group raised Scorpio Tankers from a neutral rating to a buy rating and set a $5.50 price target on the stock in a research report on Monday, November 13th. Three investment analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $6.17.

Scorpio Tankers (STNG) traded down $0.08 during mid-day trading on Friday, hitting $2.37. The company had a trading volume of 5,640,000 shares, compared to its average volume of 3,560,000. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 1.03. The firm has a market cap of $747.96, a price-to-earnings ratio of -3.00 and a beta of 1.29. Scorpio Tankers has a twelve month low of $2.37 and a twelve month high of $4.79.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.04). The firm had revenue of $123.20 million for the quarter, compared to analyst estimates of $129.54 million. Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. equities research analysts forecast that Scorpio Tankers will post -0.4 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased 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 period. Monarch Alternative Capital LP acquired a new stake in Scorpio Tankers in the third quarter worth $32,371,000. FMR LLC increased its position in Scorpio Tankers by 160.9% in the second quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock worth $29,710,000 after buying an additional 4,615,440 shares during the period. Lasry Marc acquired a new stake in Scorpio Tankers in the third quarter worth $19,205,000. Finally, Boston Partners increased its position in Scorpio Tankers by 16.7% in the fourth quarter. Boston Partners now owns 5,356,842 shares of the shipping company’s stock worth $16,338,000 after buying an additional 765,354 shares during the period. 59.01% of the stock is currently owned by hedge funds and other institutional investors.

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About Scorpio Tankers

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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