Share on StockTwits

Scorpio Tankers (NASDAQ:STNG) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Thursday. The firm currently has a $9.80 target price on the stock. Zacks‘s price target would indicate a potential upside of 2.62% from the stock’s previous close.

Shares of Scorpio Tankers (NASDAQ:STNG) traded down 0.84% during mid-day trading on Thursday, hitting $9.47. 1,014,707 shares of the company’s stock traded hands. Scorpio Tankers has a 1-year low of $8.57 and a 1-year high of $12.48. The stock’s 50-day moving average is $9.59 and its 200-day moving average is $9.6. The company has a market cap of $1.793 billion and a price-to-earnings ratio of 26.38.

Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings results on Monday, July 28th. The company reported ($0.06) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.04) by $0.02. The company had revenue of $57.40 million for the quarter, compared to the consensus estimate of $63.48 million. During the same quarter last year, the company posted $0.03 earnings per share. Scorpio Tankers’s revenue was up 11.5% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Wednesday, August 20th. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.09.

A number of other firms have also recently commented on STNG. Analysts at Canaccord Genuity initiated coverage on shares of Scorpio Tankers in a research note on Tuesday, July 8th. They set a “hold” rating and a $9.00 price target on the stock. Separately, 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 DNB Markets downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $10.56.

Scorpio Tankers Inc is engaged in seaborne transportation of crude oil and refined petroleum products in the international shipping markets.

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.