Scorpio Tankers (NYSE:STNG) Stock Rating Lowered by Wall Street Zen

Scorpio Tankers (NYSE:STNG) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

A number of other equities research analysts have also commented on STNG. Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Evercore reaffirmed an “outperform” rating and set a $98.00 price target on shares of Scorpio Tankers in a research report on Wednesday, May 27th. Dnb Carnegie lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Bank of America raised Scorpio Tankers from an “underperform” rating to a “buy” rating and raised their target price for the stock from $76.00 to $100.00 in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Scorpio Tankers Price Performance

Shares of STNG opened at $72.44 on Friday. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.65 billion, a PE ratio of 7.12 and a beta of -0.26. Scorpio Tankers has a 12-month low of $38.83 and a 12-month high of $87.39. The business has a 50-day simple moving average of $79.01 and a two-hundred day simple moving average of $69.82.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. The firm had revenue of $312.86 million for the quarter, compared to analyst estimates of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The business’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. Analysts anticipate that Scorpio Tankers will post 11.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Scorpio Tankers

Several institutional investors have recently bought and sold shares of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Scorpio Tankers by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock valued at $996,000 after acquiring an additional 1,144 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Scorpio Tankers by 9.4% during the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after acquiring an additional 2,802 shares during the last quarter. Legal & General Group Plc lifted its holdings in Scorpio Tankers by 11.2% during the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock worth $391,000 after acquiring an additional 1,005 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Scorpio Tankers by 593.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock worth $110,000 after purchasing an additional 2,402 shares during the period. Finally, Marshall Wace LLP increased its holdings in Scorpio Tankers by 3.1% during the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock worth $5,932,000 after buying an additional 4,618 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.