Scorpio Tankers (STNG) Upgraded at JPMorgan Chase & Co.

Scorpio Tankers (NYSE:STNG) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, The Fly reports.

Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Zacks Investment Research lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Saturday, April 20th. Finally, B. Riley upgraded shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $22.00 to $25.00 in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Scorpio Tankers currently has a consensus rating of “Buy” and a consensus price target of $30.25.

Shares of NYSE:STNG opened at $26.90 on Thursday. Scorpio Tankers has a 12 month low of $14.75 and a 12 month high of $32.50. The company has a current ratio of 1.48, a quick ratio of 1.46 and a debt-to-equity ratio of 1.34. The firm has a market cap of $1.37 billion, a P/E ratio of -5.90 and a beta of 1.15.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, May 2nd. The shipping company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.18. Scorpio Tankers had a negative net margin of 23.03% and a negative return on equity of 6.54%. The business had revenue of $195.83 million for the quarter, compared to analyst estimates of $186.60 million. During the same period last year, the business posted ($1.02) earnings per share. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. Research analysts predict that Scorpio Tankers will post -0.36 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Scorpio Tankers by 44.6% in the fourth quarter. Bank of New York Mellon Corp now owns 24,797,345 shares of the shipping company’s stock valued at $43,644,000 after purchasing an additional 7,646,564 shares in the last quarter. BlackRock Inc. grew its position in Scorpio Tankers by 53.8% in the fourth quarter. BlackRock Inc. now owns 22,545,814 shares of the shipping company’s stock valued at $39,682,000 after purchasing an additional 7,886,648 shares in the last quarter. Investec Asset Management LTD grew its position in Scorpio Tankers by 283.0% in the fourth quarter. Investec Asset Management LTD now owns 13,977,727 shares of the shipping company’s stock valued at $24,601,000 after purchasing an additional 10,328,463 shares in the last quarter. Evermore Global Advisors LLC grew its position in Scorpio Tankers by 34.5% in the fourth quarter. Evermore Global Advisors LLC now owns 13,597,623 shares of the shipping company’s stock valued at $23,932,000 after purchasing an additional 3,490,102 shares in the last quarter. Finally, Hosking Partners LLP grew its position in Scorpio Tankers by 22.8% in the fourth quarter. Hosking Partners LLP now owns 12,020,122 shares of the shipping company’s stock valued at $21,155,000 after purchasing an additional 2,233,997 shares in the last quarter.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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