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. “
A number of other brokerages have also weighed in on STNG. Morgan Stanley reaffirmed an equal weight rating and issued a $4.50 price target (down from $6.00) on shares of Scorpio Tankers in a research note on Friday, August 26th. Deutsche Bank AG set a $9.00 price target on shares of Scorpio Tankers and gave the company a buy rating in a research note on Monday, August 1st. Jefferies Group set a $7.00 price target on shares of Scorpio Tankers and gave the company a buy rating in a research note on Wednesday, July 27th. Clarkson Capital lowered shares of Scorpio Tankers from a buy rating to a neutral rating in a research note on Monday, October 3rd. Finally, ABN Amro lowered shares of Scorpio Tankers from a buy rating to a sell rating in a research note on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Scorpio Tankers has an average rating of Hold and a consensus target price of $6.83.
Shares of Scorpio Tankers (NASDAQ:STNG) traded up 1.37% during midday trading on Thursday, reaching $4.43. The company’s stock had a trading volume of 410,379 shares. The company has a 50 day moving average price of $4.79 and a 200-day moving average price of $5.19. The stock has a market capitalization of $714.92 million and a PE ratio of 5.08. Scorpio Tankers has a 52 week low of $4.05 and a 52 week high of $9.76.
Scorpio Tankers (NASDAQ:STNG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.03. The company had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $146.20 million. The company’s quarterly revenue was down 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. On average, equities research analysts expect that Scorpio Tankers will post $0.30 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 11.44%. The ex-dividend date was Tuesday, September 13th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IBM Retirement Fund acquired a new position in Scorpio Tankers during the second quarter worth $108,000. Dynamic Technology Lab Private Ltd acquired a new position in Scorpio Tankers during the second quarter worth $113,000. FDx Advisors Inc. raised its position in Scorpio Tankers by 49.9% in the second quarter. FDx Advisors Inc. now owns 30,344 shares of the company’s stock worth $127,000 after buying an additional 10,105 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Scorpio Tankers during the second quarter worth $135,000. Finally, Putnam FL Investment Management Co. raised its position in Scorpio Tankers by 19.3% in the second quarter. Putnam FL Investment Management Co. now owns 33,695 shares of the company’s stock worth $142,000 after buying an additional 5,460 shares during the period.
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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