Scorpio Tankers Inc. (NASDAQ:STNG) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday, October 27th.
STNG has been the topic of a number of other research reports. Credit Suisse Group reissued a “buy” rating and issued a $7.00 price target on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $7.00 target price (down previously from $8.00) on shares of Scorpio Tankers in a research report on Wednesday, September 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $5.50 target price (down previously from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $6.33.
Scorpio Tankers (NASDAQ:STNG) traded down $0.01 during trading hours on Friday, hitting $3.43. 1,959,900 shares of the stock were exchanged, compared to its average volume of 3,072,710. Scorpio Tankers has a 12 month low of $3.20 and a 12 month high of $4.93.
Scorpio Tankers (NASDAQ:STNG) last released its quarterly earnings results on Monday, September 18th. The shipping company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. The firm had revenue of $118.40 million during the quarter, compared to the consensus estimate of $130.03 million. Scorpio Tankers’s revenue for the quarter was down 13.7% compared to the same quarter last year.
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A number of institutional investors have recently made changes to their positions in STNG. Bank of New York Mellon Corp increased its holdings in Scorpio Tankers by 6.8% in the 1st quarter. Bank of New York Mellon Corp now owns 573,107 shares of the shipping company’s stock valued at $2,544,000 after buying an additional 36,402 shares during the period. Karp Capital Management Corp bought a new stake in Scorpio Tankers in the 1st quarter valued at $164,000. American International Group Inc. increased its holdings in Scorpio Tankers by 7.1% in the 1st quarter. American International Group Inc. now owns 100,667 shares of the shipping company’s stock valued at $447,000 after buying an additional 6,647 shares during the period. OppenheimerFunds Inc. increased its holdings in Scorpio Tankers by 54.9% in the 1st quarter. OppenheimerFunds Inc. now owns 62,023 shares of the shipping company’s stock valued at $275,000 after buying an additional 21,986 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Scorpio Tankers by 15.0% in the 1st 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 during the period.
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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