Scorpio Tankers Inc. (STNG) Stock Rating Reaffirmed by Credit Suisse Group AG
Scorpio Tankers Inc. (NASDAQ:STNG)‘s stock had its “buy” rating reissued by equities research analysts at Credit Suisse Group AG in a report released on Monday. They presently have a $7.00 target price on the stock. Credit Suisse Group AG’s price objective points to a potential upside of 60.55% from the company’s current price.
A number of other research firms also recently weighed in on STNG. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. ABN Amro downgraded Scorpio Tankers from a “buy” rating to a “sell” rating in a report on Thursday, June 30th. Deutsche Bank AG set a $9.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a report on Monday, August 1st. Clarkson Capital downgraded Scorpio Tankers from a “buy” rating to a “neutral” rating in a report on Monday, October 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $4.50 price objective (down from $6.00) on shares of Scorpio Tankers in a report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.88.
Shares of Scorpio Tankers (NASDAQ:STNG) opened at 4.36 on Monday. Scorpio Tankers has a 52-week low of $4.05 and a 52-week high of $9.76. The company has a 50-day moving average price of $4.78 and a 200 day moving average price of $5.18. The firm has a market capitalization of $703.62 million and a PE ratio of 5.00.
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Scorpio Tankers (NASDAQ:STNG) last released its earnings results on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.03. The company earned $137.21 million during the quarter, compared to analyst estimates of $146.20 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The firm’s quarterly revenue was down 27.2% compared to the same quarter last year. Analysts expect that Scorpio Tankers will post $0.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.47%. The ex-dividend date of this dividend was Tuesday, September 13th.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IBM Retirement Fund purchased a new position in Scorpio Tankers during the second quarter worth about $108,000. Dynamic Technology Lab Private Ltd purchased a new position in Scorpio Tankers during the second quarter worth about $113,000. FDx Advisors Inc. boosted its position in Scorpio Tankers by 49.9% in the second quarter. FDx Advisors Inc. now owns 30,344 shares of the company’s stock worth $127,000 after buying an additional 10,105 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in Scorpio Tankers during the second quarter worth about $135,000. Finally, Putnam FL Investment Management Co. boosted its position in Scorpio Tankers by 19.3% in the second quarter. Putnam FL Investment Management Co. now owns 33,695 shares of the company’s stock worth $142,000 after buying an additional 5,460 shares during the period.
Scorpio Tankers Company Profile
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers, which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.
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