Zacks Investment Research upgraded shares of Scorpio Tankers (NYSE:STNG) from a sell rating to a hold rating in a report published on Wednesday.
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. “
Other equities analysts have also recently issued research reports about the stock. ValuEngine raised shares of Scorpio Tankers from a strong sell rating to a sell rating in a research report on Wednesday, May 2nd. Morgan Stanley dropped their target price on shares of Scorpio Tankers from $3.50 to $3.00 and set an overweight rating on the stock in a research report on Wednesday, April 25th. DNB Markets raised shares of Scorpio Tankers from a hold rating to a buy rating in a research report on Wednesday, April 25th. Bank of America dropped their target price on shares of Scorpio Tankers from $3.85 to $2.75 and set a buy rating on the stock in a research report on Monday, March 19th. Finally, Deutsche Bank reissued a buy rating on shares of Scorpio Tankers in a research report on Tuesday, April 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $4.21.
Shares of NYSE STNG opened at $2.81 on Wednesday. Scorpio Tankers has a fifty-two week low of $1.85 and a fifty-two week high of $4.18. The stock has a market capitalization of $978.31 million, a P/E ratio of -5.98 and a beta of 1.34. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55.
Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, April 25th. The shipping company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). Scorpio Tankers had a negative net margin of 32.67% and a negative return on equity of 7.61%. The business had revenue of $156.50 million during the quarter, compared to the consensus estimate of $154.72 million. During the same period in the previous year, the business posted ($0.07) EPS. Scorpio Tankers’s revenue was up 27.4% compared to the same quarter last year. sell-side analysts expect that Scorpio Tankers will post -0.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 28th. Shareholders of record on Wednesday, June 6th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, June 5th. This represents a $0.04 annualized dividend and a dividend yield of 1.42%. Scorpio Tankers’s dividend payout ratio is currently -8.51%.
Several institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Scorpio Tankers during the 1st quarter worth approximately $410,000. California State Teachers Retirement System raised its holdings in shares of Scorpio Tankers by 8.8% in the 1st quarter. California State Teachers Retirement System now owns 410,437 shares of the shipping company’s stock worth $804,000 after purchasing an additional 33,232 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Scorpio Tankers by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 196,351 shares of the shipping company’s stock worth $385,000 after purchasing an additional 20,833 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Scorpio Tankers in the 1st quarter worth approximately $1,567,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of Scorpio Tankers by 1.3% in the 1st quarter. Nuveen Asset Management LLC now owns 6,184,122 shares of the shipping company’s stock worth $12,121,000 after purchasing an additional 80,911 shares during the period. 57.02% of the stock is currently owned by hedge funds and other institutional investors.
About Scorpio Tankers
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.
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