Scorpio Tankers Upgraded to Neutral by Zacks (STNG)
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.
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