Scorpio Tankers Inc. (STNG) Downgraded to “Neutral” at Clarkson Capital
Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Scorpio Tankers from a sell rating to a hold rating in a report on Tuesday, August 2nd. ABN Amro downgraded shares of Scorpio Tankers from a buy rating to a sell rating in a report on Thursday, June 30th. Deutsche Bank AG set a $9.00 price target on shares of Scorpio Tankers and gave the company a buy rating in a research note on Monday, August 1st. Jefferies Group set a $7.00 price target on shares of Scorpio Tankers and gave the company a buy rating in a research note on Wednesday, July 27th. Finally, Morgan Stanley restated an equal weight rating and issued a $4.50 price target (down from $6.00) on shares of Scorpio Tankers in a research note on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $6.83.
Shares of Scorpio Tankers (NASDAQ:STNG) traded up 1.28% during trading on Monday, hitting $4.76. 531,895 shares of the company’s stock were exchanged. The stock has a market cap of $768.17 million and a PE ratio of 5.46. Scorpio Tankers has a 1-year low of $4.05 and a 1-year high of $10.33. The stock’s 50-day moving average price is $4.91 and its 200-day moving average price is $5.24.
Scorpio Tankers (NASDAQ:STNG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ 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 quarter in the prior year, the company posted $0.32 EPS. Scorpio Tankers’s revenue was down 27.2% on a year-over-year basis. On average, equities analysts expect that Scorpio Tankers will post $0.30 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.50 dividend on an annualized basis and a yield of 10.64%.
A number of large investors have recently made changes to their positions in the company. FMR LLC increased 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 during the last quarter. Carlson Capital L P purchased a new stake in shares of Scorpio Tankers during the second quarter worth about $16,968,000. Visium Asset Management LP purchased a new stake in shares of Scorpio Tankers during the second quarter worth about $7,410,000. Vanguard Group Inc. increased its stake in shares of 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 during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Scorpio Tankers during the second quarter worth about $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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