Shares of Scorpio Tankers Inc. (NYSE:STNG) have received an average recommendation of “Buy” from the sixteen research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $6.17.
Several analysts have recently weighed in on the stock. Stifel Nicolaus set a $7.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a research report on Sunday, October 29th. BidaskClub cut shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Friday, October 27th. Morgan Stanley lowered their price objective on shares of Scorpio Tankers from $5.50 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. ValuEngine cut shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Finally, Jefferies Group restated a “buy” rating and set a $5.50 price objective on shares of Scorpio Tankers in a research report on Tuesday, October 31st.
Several hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Scorpio Tankers by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock valued at $57,839,000 after purchasing an additional 875,100 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Scorpio Tankers by 232.0% during the 4th quarter. Bank of New York Mellon Corp now owns 16,105,736 shares of the shipping company’s stock valued at $49,123,000 after purchasing an additional 11,255,133 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Scorpio Tankers by 13.2% during the 4th quarter. BlackRock Inc. now owns 11,138,382 shares of the shipping company’s stock valued at $33,972,000 after purchasing an additional 1,302,536 shares during the last quarter. Monarch Alternative Capital LP bought a new position in shares of Scorpio Tankers during the 3rd quarter valued at $32,371,000. Finally, FMR LLC grew its holdings in shares of Scorpio Tankers by 160.9% during the 2nd quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock valued at $29,710,000 after purchasing an additional 4,615,440 shares during the last quarter. 58.93% of the stock is currently owned by institutional investors.
Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.04). Scorpio Tankers had a negative return on equity of 6.47% and a negative net margin of 31.12%. The firm had revenue of $123.20 million during the quarter, compared to analysts’ expectations of $129.54 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts anticipate that Scorpio Tankers will post -0.4 earnings per share for the current fiscal year.
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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, 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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