Scorpio Tankers (STNG) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Scorpio Tankers (NYSE:STNG) from a hold rating to a sell rating in a research note issued to investors on Wednesday, December 20th.

According to Zacks, “Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. The Company’s initial fleet consists of three modern panamax tankers. Its vessels carry petroleum products and crude oil for integrated oil companies, oil traders, and other customers. Scorpio Tankers Inc. is headquartered in Monaco, Scorpio. “

Other research analysts have also recently issued research reports about the company. UBS Group upgraded Scorpio Tankers from a neutral rating to a buy rating and set a $5.50 price objective for the company in a research note on Monday, November 13th. Jefferies Group reiterated a buy rating and set a $5.50 price objective on shares of Scorpio Tankers in a research note on Tuesday, October 31st. Stifel Nicolaus set a $7.00 price target on Scorpio Tankers and gave the stock a buy rating in a research note on Sunday, October 29th. Credit Suisse Group restated a buy rating and issued a $7.00 price target on shares of Scorpio Tankers in a research note on Tuesday, September 19th. Finally, Morgan Stanley decreased their price target on Scorpio Tankers from $5.50 to $5.00 and set an overweight rating for the company in a research note on Friday, November 17th. Three research analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $6.28.

Scorpio Tankers (NYSE:STNG) traded down $0.07 on Wednesday, hitting $3.22. The stock had a trading volume of 2,412,248 shares, compared to its average volume of 2,806,756. The stock has a market cap of $1,040.00, a PE ratio of -4.08 and a beta of 1.59. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Scorpio Tankers has a 52 week low of $2.99 and a 52 week high of $4.79.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, November 16th. The shipping company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.04). The firm had revenue of $123.20 million during the quarter, compared to analysts’ expectations of $129.54 million. Scorpio Tankers had a negative net margin of 30.01% and a negative return on equity of 9.70%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) EPS. sell-side analysts predict that Scorpio Tankers will post -0.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio is presently -5.06%.

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in shares of Scorpio Tankers by 5.1% in the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after acquiring an additional 1,316 shares during the period. MML Investors Services LLC boosted its stake in shares of Scorpio Tankers by 137.2% in the second quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after acquiring an additional 21,250 shares during the period. GSA Capital Partners LLP bought a new position in shares of Scorpio Tankers in the second quarter worth about $154,000. BlueCrest Capital Management Ltd boosted its stake in shares of Scorpio Tankers by 498.3% in the second quarter. BlueCrest Capital Management Ltd now owns 70,897 shares of the shipping company’s stock worth $281,000 after acquiring an additional 59,048 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Scorpio Tankers by 66.2% in the third quarter. Legal & General Group Plc now owns 85,648 shares of the shipping company’s stock worth $296,000 after acquiring an additional 34,129 shares during the period. 59.04% of the stock is owned by institutional investors and hedge funds.

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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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