Evercore ISI reissued their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a research report sent to investors on Monday morning, AnalystRatings.com reports.
Other equities research analysts have also issued research reports about the stock. B. Riley set a $40.00 target price on shares of Scorpio Tankers and gave the company a buy rating in a research note on Tuesday, September 24th. Stifel Nicolaus lowered shares of Scorpio Tankers from a buy rating to a hold rating and lifted their price objective for the company from $32.00 to $37.00 in a research note on Thursday, October 17th. ValuEngine lowered shares of Scorpio Tankers from a sell rating to a strong sell rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Scorpio Tankers from a sell rating to a hold rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $36.33.
Shares of NYSE:STNG traded up $0.35 during trading on Monday, reaching $31.54. 670,500 shares of the company traded hands, compared to its average volume of 797,634. The firm has a fifty day simple moving average of $32.74 and a 200 day simple moving average of $28.45. The firm has a market cap of $1.76 billion, a P/E ratio of -6.92 and a beta of 1.04. Scorpio Tankers has a 1-year low of $15.00 and a 1-year high of $36.85. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 1.38.
Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, November 7th. The shipping company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.06). The company had revenue of $136.07 million for the quarter, compared to analyst estimates of $142.53 million. Scorpio Tankers had a negative net margin of 12.03% and a negative return on equity of 4.13%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. As a group, research analysts anticipate that Scorpio Tankers will post -0.73 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in STNG. Nuveen Asset Management LLC acquired a new stake in shares of Scorpio Tankers in the 2nd quarter valued at $13,497,000. Waddell & Reed Financial Inc. acquired a new stake in shares of Scorpio Tankers in the 2nd quarter valued at $11,117,000. Russell Investments Group Ltd. lifted its stake in shares of Scorpio Tankers by 153.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 578,309 shares of the shipping company’s stock valued at $17,209,000 after purchasing an additional 350,188 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Scorpio Tankers in the 2nd quarter valued at $6,330,000. Finally, Renaissance Technologies LLC raised its holdings in Scorpio Tankers by 76.3% in the 2nd quarter. Renaissance Technologies LLC now owns 413,320 shares of the shipping company’s stock worth $12,201,000 after acquiring an additional 178,900 shares during the period. 57.62% of the stock is owned by institutional investors and hedge funds.
Scorpio Tankers Company Profile
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.
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