Scorpio Tankers (STNG) Rating Increased to Hold at Zacks Investment Research

Scorpio Tankers (NYSE:STNG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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 analysts have also recently issued research reports about the stock. DNB Markets raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Wednesday, April 25th. Deutsche Bank reaffirmed a “buy” rating on shares of Scorpio Tankers in a report on Tuesday, April 10th. Bank of America reduced their target price on shares of Scorpio Tankers from $3.85 to $2.75 and set a “buy” rating on the stock in a report on Monday, March 19th. ValuEngine raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Morgan Stanley reduced their target price on shares of Scorpio Tankers from $3.50 to $3.00 and set an “overweight” rating on the stock in a report on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Scorpio Tankers has an average rating of “Buy” and an average target price of $4.21.

Shares of STNG opened at $2.87 on Wednesday. The stock has a market cap of $994.89 million, a PE ratio of -6.11 and a beta of 1.34. Scorpio Tankers has a 1 year low of $1.85 and a 1 year high of $4.18. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.09.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, April 25th. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The business had revenue of $156.50 million for the quarter, compared to analyst estimates of $154.72 million. Scorpio Tankers had a negative return on equity of 7.61% and a negative net margin of 32.67%. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. analysts predict that Scorpio Tankers will post -0.2 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its stake in Scorpio Tankers by 321.5% in the first quarter. SG Americas Securities LLC now owns 60,854 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 46,417 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Scorpio Tankers by 35.0% in the fourth quarter. OppenheimerFunds Inc. now owns 83,215 shares of the shipping company’s stock valued at $254,000 after purchasing an additional 21,562 shares during the last quarter. Renaissance Technologies LLC increased its stake in Scorpio Tankers by 867.2% in the fourth quarter. Renaissance Technologies LLC now owns 182,800 shares of the shipping company’s stock valued at $558,000 after purchasing an additional 163,900 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Scorpio Tankers by 11.9% in the first quarter. The Manufacturers Life Insurance Company now owns 196,351 shares of the shipping company’s stock valued at $385,000 after purchasing an additional 20,833 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Scorpio Tankers in the first quarter valued at approximately $410,000. Institutional investors own 57.02% of the company’s stock.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

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