Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned a consensus recommendation of “Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.28.
A number of equities research analysts have commented on the company. Credit Suisse Group restated a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Stifel Nicolaus reiterated a “buy” rating and set a $7.00 price target (down from $8.00) on shares of Scorpio Tankers in a report on Wednesday, September 20th. UBS upgraded Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 price target for the company in a report on Monday, November 13th. Finally, BidaskClub lowered Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Friday, October 27th.
Scorpio Tankers (STNG) opened at $3.19 on Friday. 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 has a 1 year low of $2.99 and a 1 year high of $4.93.
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 6.47% and a negative net margin of 31.12%. The business had revenue of $123.20 million for the quarter, compared to analyst estimates of $129.54 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. sell-side analysts predict that Scorpio Tankers will post -0.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s payout ratio is -5.06%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP increased its position in Scorpio Tankers by 1,628.8% in the 3rd quarter. GSA Capital Partners LLP now owns 669,353 shares of the shipping company’s stock worth $2,296,000 after buying an additional 630,636 shares during the period. Cubist Systematic Strategies LLC increased its position in Scorpio Tankers by 2,287.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 293,141 shares of the shipping company’s stock worth $1,005,000 after buying an additional 280,865 shares during the period. Monarch Alternative Capital LP bought a new position in Scorpio Tankers in the 3rd quarter worth approximately $32,371,000. Lasry Marc bought a new position in Scorpio Tankers in the 3rd quarter worth approximately $19,205,000. Finally, Caxton Associates LP bought a new position in Scorpio Tankers in the 3rd quarter worth approximately $343,000. 59.04% of the stock is currently owned by institutional investors.
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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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