Jefferies Group assumed coverage on shares of Scorpio Tankers (NYSE:STNG) in a research note issued on Monday, December 18th. The firm set a “buy” rating and a $5.00 price target on the shipping company’s stock. Jefferies Group’s price target would suggest a potential upside of 55.28% from the stock’s previous close. Jefferies Group also issued estimates for Scorpio Tankers’ Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.34) EPS and FY2018 earnings at $0.52 EPS.
Several other equities research analysts also recently weighed in on STNG. BidaskClub raised Scorpio Tankers from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Stifel Nicolaus set a $8.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a report on Monday, August 28th. Credit Suisse Group reissued a “buy” rating and issued a $7.00 price objective on shares of Scorpio Tankers in a report on Tuesday, September 19th. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Finally, UBS Group upgraded Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 price target for the company in a research note on Monday, November 13th. Three equities research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $6.28.
Scorpio Tankers (NYSE STNG) traded down $0.08 during mid-day trading on Monday, hitting $3.22. 2,410,000 shares of the company were exchanged, compared to its average volume of 3,580,000. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99. The stock has a market capitalization of $1,020.00, a price-to-earnings ratio of -4.08 and a beta of 1.59. Scorpio Tankers has a 12-month low of $2.99 and a 12-month high of $4.84.
Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.04). The business had revenue of $123.20 million during the quarter, compared to analyst estimates of $129.54 million. Scorpio Tankers had a negative net margin of 30.01% and a negative return on equity of 9.70%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. sell-side analysts forecast that Scorpio Tankers will post -0.39 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in STNG. Teachers Advisors LLC raised its position in Scorpio Tankers by 6.7% in the first quarter. Teachers Advisors LLC now owns 289,807 shares of the shipping company’s stock worth $1,287,000 after acquiring an additional 18,139 shares in the last quarter. Geode Capital Management LLC raised its position in Scorpio Tankers by 58.4% in the first quarter. Geode Capital Management LLC now owns 433,147 shares of the shipping company’s stock worth $1,923,000 after acquiring an additional 159,649 shares in the last quarter. Sei Investments Co. raised its position in Scorpio Tankers by 9.5% in the second quarter. Sei Investments Co. now owns 110,341 shares of the shipping company’s stock worth $438,000 after acquiring an additional 9,582 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Scorpio Tankers by 47.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 395,498 shares of the shipping company’s stock worth $1,571,000 after acquiring an additional 127,396 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Scorpio Tankers by 11.8% in the second quarter. Bank of New York Mellon Corp now owns 641,007 shares of the shipping company’s stock worth $2,545,000 after acquiring an additional 67,900 shares in the last quarter. Hedge funds and other institutional investors own 59.04% of the company’s stock.
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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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