Zacks Downgrades Scorpio Tankers to Underperform (STNG)
Scorpio Tankers (NASDAQ:STNG) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Monday. They currently have a $9.50 price objective on the stock. Zacks‘s price objective would indicate a potential downside of 5.19% from the stock’s previous close.
A number of other firms have also recently commented on STNG. Analysts at DNB Markets downgraded shares of Scorpio Tankers from a “buy” rating to a “sell” rating in a research note on Friday, June 13th. They now have a $8.00 price target on the stock, down previously from $14.20. Finally, 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, June 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.30.
Scorpio Tankers (NASDAQ:STNG) traded up 0.85% during mid-day trading on Monday, hitting $10.105. The stock had a trading volume of 939,934 shares. Scorpio Tankers has a 52 week low of $8.57 and a 52 week high of $12.48. The stock’s 50-day moving average is $9.12 and its 200-day moving average is $9.88. The company has a market cap of $1.913 billion and a price-to-earnings ratio of 27.68.
Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 70.8% on a year-over-year basis.
Scorpio Tankers Inc is engaged in seaborne transportation of crude oil and refined petroleum products in the international shipping markets.
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