Scorpio Tankers Inc. (STNG) Rating Lowered to Sell at Zacks Investment Research

Scorpio Tankers Inc. (NASDAQ:STNG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday.

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 equities analysts have also weighed in on STNG. BidaskClub lowered shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 price target (down previously from $8.00) on shares of Scorpio Tankers in a report on Wednesday, September 20th. Credit Suisse Group set a $7.00 price target on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $5.50 price target (down previously from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $6.33.

Shares of Scorpio Tankers (NASDAQ:STNG) opened at 3.70 on Friday. The firm has a 50-day moving average price of $3.56 and a 200-day moving average price of $3.81. The stock’s market cap is $671.10 million. Scorpio Tankers has a 12 month low of $3.20 and a 12 month high of $4.93.

Scorpio Tankers (NASDAQ:STNG) last announced its quarterly earnings results on Monday, September 18th. The shipping company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). The company had revenue of $118.40 million during the quarter, compared to analyst estimates of $130.03 million. Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. The company’s revenue was down 13.7% on a year-over-year basis. Equities analysts expect that Scorpio Tankers will post ($0.16) EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Scorpio Tankers Inc. (STNG) Rating Lowered to Sell at Zacks Investment Research” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/21/scorpio-tankers-inc-stng-rating-lowered-to-sell-at-zacks-investment-research-2.html.

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Scorpio Tankers by 5.1% in the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock valued at $108,000 after acquiring an additional 1,316 shares during the period. Jane Street Group LLC purchased a new position in shares of Scorpio Tankers in the 1st quarter valued at $129,000. MML Investors Services LLC raised its stake in shares of Scorpio Tankers by 137.2% in the 2nd quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 21,250 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Scorpio Tankers in the 2nd quarter valued at $154,000. Finally, Karp Capital Management Corp purchased a new position in shares of Scorpio Tankers in the 1st quarter valued at $164,000.

Scorpio Tankers Company Profile

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, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

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 equities analysts have also weighed in on STNG. BidaskClub lowered shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 price target (down previously from $8.00) on shares of Scorpio Tankers in a report on Wednesday, September 20th. Credit Suisse Group set a $7.00 price target on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $5.50 price target (down previously from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $6.33.

Shares of Scorpio Tankers (NASDAQ:STNG) opened at 3.70 on Friday. The firm has a 50-day moving average price of $3.56 and a 200-day moving average price of $3.81. The stock’s market cap is $671.10 million. Scorpio Tankers has a 12 month low of $3.20 and a 12 month high of $4.93.

Scorpio Tankers (NASDAQ:STNG) last announced its quarterly earnings results on Monday, September 18th. The shipping company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). The company had revenue of $118.40 million during the quarter, compared to analyst estimates of $130.03 million. Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. The company’s revenue was down 13.7% on a year-over-year basis. Equities analysts expect that Scorpio Tankers will post ($0.16) EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Scorpio Tankers Inc. (STNG) Rating Lowered to Sell at Zacks Investment Research” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/21/scorpio-tankers-inc-stng-rating-lowered-to-sell-at-zacks-investment-research-2.html.

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Scorpio Tankers by 5.1% in the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock valued at $108,000 after acquiring an additional 1,316 shares during the period. Jane Street Group LLC purchased a new position in shares of Scorpio Tankers in the 1st quarter valued at $129,000. MML Investors Services LLC raised its stake in shares of Scorpio Tankers by 137.2% in the 2nd quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 21,250 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Scorpio Tankers in the 2nd quarter valued at $154,000. Finally, Karp Capital Management Corp purchased a new position in shares of Scorpio Tankers in the 1st quarter valued at $164,000.

Scorpio Tankers Company Profile

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, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

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