Scorpio Tankers (STNG) PT Lowered to $2.75

Scorpio Tankers (NYSE:STNG) had its price objective reduced by investment analysts at Bank of America from $3.85 to $2.75 in a report issued on Monday. The brokerage presently has a “buy” rating on the shipping company’s stock. Bank of America’s price target points to a potential upside of 29.72% from the company’s previous close.

STNG has been the topic of several other research reports. ValuEngine lowered Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Stifel Nicolaus lowered their price target on Scorpio Tankers from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, November 29th. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Credit Suisse Group lowered their price target on Scorpio Tankers from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, Morgan Stanley lowered their price target on Scorpio Tankers from $5.00 to $3.50 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Three research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $5.03.

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Scorpio Tankers stock traded down $0.07 during midday trading on Monday, reaching $2.12. The company’s stock had a trading volume of 1,332,639 shares, compared to its average volume of 4,254,531. The company has a market cap of $715.05, a PE ratio of -2.80 and a beta of 1.35. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.34 and a quick ratio of 1.29. Scorpio Tankers has a 12-month low of $2.11 and a 12-month high of $4.69.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 14th. The shipping company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.06). The firm had revenue of $148.40 million during the quarter, compared to the consensus estimate of $148.90 million. Scorpio Tankers had a negative net margin of 30.86% and a negative return on equity of 6.73%. The company’s revenue was up 39.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) EPS. sell-side analysts forecast that Scorpio Tankers will post 0.04 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. OppenheimerFunds Inc. increased its holdings in shares of Scorpio Tankers by 35.0% during the 4th quarter. OppenheimerFunds Inc. now owns 83,215 shares of the shipping company’s stock worth $254,000 after acquiring an additional 21,562 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Scorpio Tankers by 66.2% during the 3rd quarter. Legal & General Group Plc now owns 85,648 shares of the shipping company’s stock worth $296,000 after acquiring an additional 34,129 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Scorpio Tankers by 24.5% during the 3rd quarter. Private Advisor Group LLC now owns 88,128 shares of the shipping company’s stock worth $310,000 after acquiring an additional 17,318 shares during the last quarter. Caxton Associates LP acquired a new position in shares of Scorpio Tankers during the 3rd quarter worth approximately $343,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Scorpio Tankers by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,670 shares of the shipping company’s stock worth $495,000 after acquiring an additional 1,315 shares during the last quarter. 64.75% of the stock is currently owned by institutional investors and hedge funds.

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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, 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 (NYSE:STNG)

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