Shares of Scorpio Tankers Inc. (NASDAQ:STNG) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.83.
Several analysts have recently weighed in on STNG shares. Clarkson Capital cut Scorpio Tankers from a “buy” rating to a “neutral” rating in a report on Monday, October 3rd. Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Morgan Stanley restated an “equal weight” rating and set a $4.50 price target (down from $6.00) on shares of Scorpio Tankers in a report on Friday, August 26th. Deutsche Bank AG set a $9.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, August 1st. Finally, Jefferies Group set a $7.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a report on Wednesday, July 27th.
Shares of Scorpio Tankers (NASDAQ:STNG) opened at 4.88 on Wednesday. Scorpio Tankers has a 1-year low of $4.05 and a 1-year high of $10.11. The company has a market capitalization of $787.54 million and a PE ratio of 5.60. The company’s 50-day moving average price is $4.86 and its 200-day moving average price is $5.22.
Scorpio Tankers (NASDAQ:STNG) last released its earnings results on Thursday, July 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.03. The business earned $137.21 million during the quarter, compared to analysts’ expectations of $146.20 million. During the same quarter in the previous year, the company posted $0.32 EPS. The firm’s revenue was down 27.2% on a year-over-year basis. On average, equities analysts expect that Scorpio Tankers will post $0.30 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.25%. The ex-dividend date was Tuesday, September 13th.
Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Scorpio Tankers by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 14,295,416 shares of the company’s stock worth $60,042,000 after buying an additional 320,647 shares in the last quarter. FMR LLC raised its position in Scorpio Tankers by 151.0% in the second quarter. FMR LLC now owns 7,555,147 shares of the company’s stock worth $31,732,000 after buying an additional 4,545,067 shares in the last quarter. Vanguard Group Inc. raised its position in Scorpio Tankers by 15.6% in the second quarter. Vanguard Group Inc. now owns 6,258,979 shares of the company’s stock worth $26,288,000 after buying an additional 844,186 shares in the last quarter. Carlson Capital L P bought a new position in Scorpio Tankers during the second quarter worth approximately $16,968,000. Finally, Comerica Bank raised its position in Scorpio Tankers by 2.6% in the second quarter. Comerica Bank now owns 3,112,722 shares of the company’s stock worth $16,186,000 after buying an additional 78,438 shares in the last quarter.
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, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers, which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.
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