Scorpio Tankers Inc. (NASDAQ:STNG) was downgraded by analysts at Clarkson Capital from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday.
A number of other equities analysts have also recently commented on STNG. Zacks Investment Research cut shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Deutsche Bank AG reiterated a “buy” rating and issued a $9.00 target price on shares of Scorpio Tankers in a research report on Wednesday, July 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $4.50 target price (down previously from $6.00) on shares of Scorpio Tankers in a research report on Friday, August 26th. Jefferies Group set a $7.00 target price on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Finally, ABN Amro cut shares of Scorpio Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.83.
Scorpio Tankers (NASDAQ:STNG) opened at 4.72 on Monday. The stock’s 50 day moving average is $4.89 and its 200 day moving average is $5.23. The firm has a market cap of $761.72 million and a price-to-earnings ratio of 5.41. Scorpio Tankers has a one year low of $4.05 and a one year high of $10.33.
Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The firm had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $146.20 million. The business’s quarterly revenue was down 27.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. On average, analysts predict that Scorpio Tankers will post $0.30 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 10.59%. The ex-dividend date was Tuesday, September 13th.
A number of large investors have recently made changes to their positions in STNG. Dimensional Fund Advisors LP raised its stake in shares of 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 during the period. FMR LLC raised its stake in shares of 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 during the period. Vanguard Group Inc. raised its stake in shares of 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 during the period. Carlson Capital L P purchased a new stake in shares of Scorpio Tankers during the second quarter worth about $16,968,000. Finally, Comerica Bank raised its stake in shares of 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 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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