Scorpio Tankers Downgraded by DNB to “Sell” (STNG)
Scorpio Tankers (NASDAQ:STNG) was downgraded by analysts at DNB from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Friday. They currently have a $8.00 price target on the stock, down from their previous price target of $14.20. DNB’s price objective would indicate a potential downside of 12.57% from the stock’s previous close.
Scorpio Tankers (NASDAQ:STNG) opened at 9.15 on Friday. Scorpio Tankers has a 1-year low of $8.23 and a 1-year high of $12.48. The stock’s 50-day moving average is $9.04 and its 200-day moving average is $10.03. The company has a market cap of $1.827 billion and a price-to-earnings ratio of 25.80.
Scorpio Tankers (NASDAQ:STNG) last released its earnings data on Monday, April 28th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.02. The company had revenue of $76.73 million for the quarter, compared to the consensus estimate of $44.92 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 70.8% on a year-over-year basis.
A number of other analysts have also recently weighed in on STNG. Analysts at DNB Markets downgraded shares of Scorpio Tankers to a “sell” rating in a research note on Friday. Separately, analysts at Stifel Nicolaus cut their price target on shares of Scorpio Tankers from $15.00 to $14.00 in a research note on Friday. Finally, analysts at TheStreet upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.22.
Scorpio Tankers Inc is engaged in seaborne transportation of crude oil and refined petroleum products in the international shipping markets.
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