Scorpio Tankers Upgraded to Outperform at Credit Suisse (STNG)
Scorpio Tankers (NASDAQ:STNG) was upgraded by equities researchers at Credit Suisse from a “neutral” rating to an “outperform” rating in a report released on Thursday, TheFlyOnTheWall.com reports.
Scorpio Tankers (NASDAQ:STNG) opened at 9.38 on Thursday. Scorpio Tankers has a 1-year low of $8.57 and a 1-year high of $12.48. The stock has a 50-day moving average of $9.6 and a 200-day moving average of $9.47. The company has a market cap of $1.768 billion and a price-to-earnings ratio of 29.69.
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 declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, August 20th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.09.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Scorpio Tankers from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 31st. They now have a $9.80 price target on the stock. Separately, 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. 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. Scorpio Tankers currently has a consensus rating of “Hold” and an average price target of $11.20.
Scorpio Tankers Inc is engaged in seaborne transportation of crude oil and refined petroleum products in the international shipping markets.
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