Scorpio Tankers Inc. (NASDAQ:STNG)‘s stock had its “buy” rating reiterated by analysts at Credit Suisse Group AG in a research report issued on Monday. They presently have a $7.00 price objective on the stock. Credit Suisse Group AG’s price target points to a potential upside of 58.01% from the stock’s previous close.
Other analysts have also issued research reports about the stock. Jefferies Group set a $7.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Wednesday, July 27th. Deutsche Bank AG set a $9.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. ABN Amro lowered shares of Scorpio Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Finally, Clarkson Capital lowered shares of Scorpio Tankers from a “buy” rating to a “neutral” rating in a research report on Monday, October 3rd. Two equities 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. The stock presently has an average rating of “Hold” and a consensus price target of $6.88.
Scorpio Tankers (NASDAQ:STNG) opened at 4.43 on Monday. The company has a 50 day moving average of $4.75 and a 200-day moving average of $5.15. The stock has a market capitalization of $714.92 million and a P/E 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 released its earnings results on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by $0.03. The business had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $146.20 million. During the same period last year, the firm posted $0.32 EPS. Scorpio Tankers’s revenue was down 27.2% compared to the same quarter last year. Equities research analysts anticipate that Scorpio Tankers will post $0.30 EPS for the current year.
The business 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. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.50 dividend on an annualized basis and a yield of 11.29%.
Institutional investors have recently made changes to their positions in the stock. IBM Retirement Fund bought a new position in shares of Scorpio Tankers during the second quarter worth about $108,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Scorpio Tankers during the second quarter worth about $113,000. FDx Advisors Inc. raised its position in shares of 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 in the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in shares of Scorpio Tankers during the second quarter worth about $135,000. Finally, Putnam FL Investment Management Co. raised its position in shares of 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 in the last quarter.
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, 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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