Scorpio Tankers Inc. (STNG) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned an average rating of “Buy” from the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.28.
Several brokerages recently commented on STNG. Stifel Nicolaus reaffirmed a “buy” rating and issued a $7.00 price objective (down from $8.00) on shares of Scorpio Tankers in a research report on Wednesday, September 20th. UBS Group raised shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Monday, November 13th. Jefferies Group began coverage on shares of Scorpio Tankers in a research report on Monday, December 18th. They issued a “buy” rating and a $5.00 price objective for the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Finally, Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP raised its position in Scorpio Tankers by 1,628.8% during the 3rd quarter. GSA Capital Partners LLP now owns 669,353 shares of the shipping company’s stock worth $2,296,000 after buying an additional 630,636 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Scorpio Tankers by 2,287.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 293,141 shares of the shipping company’s stock worth $1,005,000 after buying an additional 280,865 shares during the last quarter. Monarch Alternative Capital LP purchased a new position in Scorpio Tankers during the 3rd quarter worth approximately $32,371,000. Lasry Marc purchased a new position in Scorpio Tankers during the 3rd quarter worth approximately $19,205,000. Finally, Caxton Associates LP purchased a new position in Scorpio Tankers during the 3rd quarter worth approximately $343,000. 59.04% of the stock is owned by institutional investors.
Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The firm had revenue of $123.20 million during the quarter, compared to the consensus estimate of $129.54 million. During the same quarter in the prior year, the business posted ($0.11) earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. sell-side analysts predict that Scorpio Tankers will post -0.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, December 12th. Scorpio Tankers’s payout ratio is currently -5.06%.
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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