Scorpio Tankers (STNG) Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of Scorpio Tankers (NYSE:STNG) from a sell rating to a strong sell rating in a report released on Sunday, December 31st.

A number of other equities analysts have also recently issued reports on STNG. Stifel Nicolaus restated a buy rating and set a $7.00 target price (down previously from $8.00) on shares of Scorpio Tankers in a report on Wednesday, September 20th. Jefferies Group restated a buy rating and set a $5.50 target price on shares of Scorpio Tankers in a report on Tuesday, October 31st. Zacks Investment Research cut Scorpio Tankers from a hold rating to a sell rating in a report on Wednesday, September 20th. UBS Group upgraded Scorpio Tankers from a neutral rating to a buy rating and set a $5.50 price objective on the stock in a report on Monday, November 13th. Finally, Morgan Stanley cut their price objective on Scorpio Tankers from $5.50 to $5.00 and set an overweight rating on the stock in a report on Friday, November 17th. Three investment analysts have rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $6.28.

Shares of Scorpio Tankers (NYSE STNG) traded down $0.01 during trading hours on Friday, hitting $3.29. The stock had a trading volume of 2,753,500 shares, compared to its average volume of 2,863,114. Scorpio Tankers has a 52 week low of $2.99 and a 52 week high of $4.84. The firm has a market capitalization of $1,040.00, a price-to-earnings ratio of -4.16 and a beta of 1.59. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 1.03.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data 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). Scorpio Tankers had a negative return on equity of 9.70% and a negative net margin of 30.01%. The firm had revenue of $123.20 million during the quarter, compared to analyst estimates of $129.54 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. Scorpio Tankers’s revenue for the quarter was up 7.8% compared to the same quarter last year. analysts predict that Scorpio Tankers will post -0.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.22%. The ex-dividend date was Tuesday, December 12th. Scorpio Tankers’s payout ratio is -5.06%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in shares of Scorpio Tankers by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,670 shares of the shipping company’s stock worth $495,000 after purchasing an additional 1,315 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Scorpio Tankers by 5.1% during the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after purchasing an additional 1,316 shares during the last quarter. Comerica Securities Inc. increased its position in shares of Scorpio Tankers by 0.5% during the 2nd quarter. Comerica Securities Inc. now owns 423,883 shares of the shipping company’s stock worth $1,683,000 after purchasing an additional 2,061 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Scorpio Tankers by 0.8% during the 2nd quarter. Wells Fargo & Company MN now owns 558,058 shares of the shipping company’s stock worth $2,215,000 after purchasing an additional 4,320 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Scorpio Tankers by 4.0% during the 2nd quarter. Nationwide Fund Advisors now owns 131,118 shares of the shipping company’s stock worth $521,000 after purchasing an additional 5,041 shares during 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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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