Scorpio Tankers Coverage Initiated at Maxim Group (STNG)
Equities researchers at Maxim Group started coverage on shares of Scorpio Tankers (NASDAQ:STNG) in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
Shares of Scorpio Tankers (NASDAQ:STNG) traded down 2.46% on Thursday, hitting $11.52. 182,022 shares of the company’s stock traded hands. Scorpio Tankers has a 52 week low of $7.23 and a 52 week high of $12.48. The stock has a 50-day moving average of $11.45 and a 200-day moving average of $10.5. The company has a market cap of $2.162 billion and a P/E ratio of 231.57.
Scorpio Tankers (NASDAQ:STNG) last announced its earnings results on Monday, October 28th. The company reported $0.00 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.02 by $0.02. The company had revenue of $57.80 million for the quarter, compared to the consensus estimate of $28.67 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 101.4% on a year-over-year basis.
A number of other firms have also recently commented on STNG. Analysts at Zacks downgraded shares of Scorpio Tankers from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, December 31st. They now have a $11.20 price target on the stock. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Scorpio Tankers in a research note to investors on Tuesday, October 29th. They now have a $15.00 price target on the stock, up previously from $13.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Scorpio Tankers in a research note to investors on Tuesday, October 22nd. They now have a $14.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $12.63.
Scorpio Tankers Inc is engaged in seaborne transportation of crude oil and refined petroleum products in the international shipping markets.
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