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 research analysts have also commented on STNG. Credit Suisse Group AG reaffirmed an outperform rating on shares of Scorpio Tankers in a research report on Wednesday, June 1st. Deutsche Bank AG reaffirmed a buy rating and set a $9.00 price target on shares of Scorpio Tankers in a research report on Wednesday, July 6th. Morgan Stanley reaffirmed an equal weight rating and set a $4.50 price target (down previously from $6.00) on shares of Scorpio Tankers in a research report on Friday, August 26th. Jefferies Group set a $7.00 price target on Scorpio Tankers and gave the stock a buy rating in a research report on Wednesday, July 27th. Finally, ABN Amro lowered 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 issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $6.83.
Shares of Scorpio Tankers (NASDAQ:STNG) opened at 4.70 on Wednesday. The firm’s 50-day moving average price is $4.91 and its 200-day moving average price is $5.24. The company has a market cap of $758.49 million and a PE ratio of 5.39. Scorpio Tankers has a 12 month low of $4.05 and a 12 month high of $10.33.
Scorpio Tankers (NASDAQ:STNG) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.03. The firm earned $137.21 million during the quarter, compared to the consensus estimate of $146.20 million. Scorpio Tankers’s revenue for the quarter was down 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. Equities analysts predict that Scorpio Tankers will post $0.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 10.64%. The ex-dividend date was Tuesday, September 13th.
A number of large investors have recently made changes to their positions in STNG. 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 in the last quarter. Carlson Capital L P bought a new position in Scorpio Tankers during the second quarter worth $16,968,000. Visium Asset Management LP bought a new position in Scorpio Tankers during the second quarter worth $7,410,000. Vanguard Group Inc. increased 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. Finally, Emerald Acquisition Ltd. bought a new position in Scorpio Tankers during the second quarter worth $3,112,000.
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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