Scorpio Tankers Inc. (NASDAQ:STNG)‘s stock had its “buy” rating reissued by analysts at Jefferies Group in a report issued on Wednesday. They presently have a $6.00 target price on the stock. Jefferies Group’s target price indicates a potential upside of 48.51% from the company’s current price.

The analysts wrote, “Jefferies Reiterates a Buy Rating on Scorpio Tankers Inc. | Analyst Ratings

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Home » Jefferies Reiterates a Buy Rating on Scorpio Tankers Inc.”

A number of other analysts have also issued reports on STNG. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Clarkson Capital downgraded shares of Scorpio Tankers from a “buy” rating to a “neutral” rating in a research report on Monday, October 3rd. Credit Suisse Group AG reissued a “buy” rating and set a $7.00 price target on shares of Scorpio Tankers in a research report on Monday, October 17th. Morgan Stanley reissued 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. Finally, Deutsche Bank AG downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price target for the stock from $9.00 to $4.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.38.

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

Scorpio Tankers (NASDAQ:STNG) opened at 4.04 on Wednesday. Scorpio Tankers has a 12 month low of $3.61 and a 12 month high of $9.16. The stock has a market cap of $651.98 million and a P/E ratio of 4.63. The firm’s 50-day moving average is $4.36 and its 200-day moving average is $4.92.

Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings data on Monday, November 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $114.34 million for the quarter, compared to the consensus estimate of $118.30 million. The firm’s revenue for the quarter was down 49.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. On average, equities analysts forecast that Scorpio Tankers will post $0.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Friday, November 25th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 12.38%. The ex-dividend date of this dividend is Tuesday, November 22nd.

A number of institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC acquired a new position in Scorpio Tankers during the third quarter worth approximately $143,000. RBF Capital LLC acquired a new position in Scorpio Tankers during the third quarter worth approximately $106,000. Clinton Group Inc. increased its position in Scorpio Tankers by 28.4% in the third quarter. Clinton Group Inc. now owns 212,041 shares of the company’s stock worth $982,000 after buying an additional 46,909 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Scorpio Tankers during the third quarter worth approximately $494,000. Finally, KCG Holdings Inc. increased its position in Scorpio Tankers by 330.7% in the third quarter. KCG Holdings Inc. now owns 121,507 shares of the company’s stock worth $563,000 after buying an additional 93,295 shares in the last quarter.

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.

5 Day Chart for NASDAQ:STNG

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