Scorpio Tankers Inc. (STNG) Given Average Recommendation of “Buy” by Analysts
Shares of Scorpio Tankers Inc. (NASDAQ:STNG) have been given a consensus rating of “Buy” by the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.69.
A number of brokerages have issued reports on STNG. Seaport Global Securities reissued a “buy” rating and set a $7.50 target price on shares of Scorpio Tankers in a research report on Thursday, May 25th. Jefferies Group LLC reissued a “buy” rating and set a $5.50 target price (down from $6.00) on shares of Scorpio Tankers in a research report on Saturday. BidaskClub downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Cowen and Company reissued an “outperform” rating and set a $7.00 target price (down from $10.00) on shares of Scorpio Tankers in a research report on Thursday, April 27th. Finally, Bank of America Corporation raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Friday, May 12th.
Scorpio Tankers (STNG) traded up 2.44% during trading on Tuesday, reaching $3.78. The company had a trading volume of 725,393 shares. The company’s market capitalization is $615.05 million. Scorpio Tankers has a one year low of $3.42 and a one year high of $5.53. The company has a 50-day moving average price of $3.81 and a 200 day moving average price of $4.06.
Scorpio Tankers (NASDAQ:STNG) last issued its quarterly earnings data on Thursday, April 27th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.03. Scorpio Tankers had a negative net margin of 9.39% and a negative return on equity of 3.53%. The business had revenue of $122.80 million during the quarter, compared to the consensus estimate of $119.80 million. During the same period in the prior year, the firm posted $0.19 EPS. The firm’s quarterly revenue was down 25.6% compared to the same quarter last year. Analysts expect that Scorpio Tankers will post $0.06 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of STNG. Principal Financial Group Inc. boosted its stake in Scorpio Tankers by 15.0% in the first quarter. Principal Financial Group Inc. now owns 25,836 shares of the shipping company’s stock valued at $115,000 after buying an additional 3,377 shares in the last quarter. Jane Street Group LLC purchased a new stake in Scorpio Tankers during the first quarter valued at about $129,000. Nisa Investment Advisors LLC purchased a new stake in Scorpio Tankers during the first quarter valued at about $158,000. Karp Capital Management Corp purchased a new stake in Scorpio Tankers during the first quarter valued at about $164,000. Finally, KCG Holdings Inc. boosted its stake in Scorpio Tankers by 238.6% in the first quarter. KCG Holdings Inc. now owns 45,238 shares of the shipping company’s stock valued at $201,000 after buying an additional 31,877 shares in the last quarter.
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About Scorpio Tankers
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, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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