Scorpio Tankers Inc. (STNG) PT Lowered to $5.00 at Morgan Stanley
Scorpio Tankers Inc. (NYSE:STNG) had its price target trimmed by Morgan Stanley from $5.50 to $5.00 in a report released on Friday. The brokerage currently has an overweight rating on the shipping company’s stock.
Other research analysts also recently issued research reports about the company. Stifel Nicolaus set a $7.00 price objective on Scorpio Tankers and gave the company a buy rating in a research note on Sunday, October 29th. Credit Suisse Group reaffirmed a buy rating and issued a $7.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, September 19th. Jefferies Group LLC reaffirmed a buy rating and issued a $5.50 price objective (down previously from $6.00) on shares of Scorpio Tankers in a research note on Saturday, July 22nd. UBS AG raised Scorpio Tankers from a neutral rating to a buy rating and set a $5.50 price objective for the company in a research note on Monday, November 13th. Finally, Zacks Investment Research raised Scorpio Tankers from a sell rating to a hold rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $6.44.
Scorpio Tankers (NYSE STNG) opened at $3.40 on Friday. Scorpio Tankers has a 52 week low of $3.20 and a 52 week high of $4.93. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.
Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.04). Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The firm had revenue of $123.20 million during the quarter, compared to analyst estimates of $129.54 million. During the same period in the prior year, the company earned ($0.11) EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. analysts anticipate that Scorpio Tankers will post -0.23 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio is presently -5.06%.
Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Scorpio Tankers by 191.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,016,668 shares of the shipping company’s stock worth $4,514,000 after buying an additional 667,860 shares in the last quarter. Front Barnett Associates LLC bought a new position in shares of Scorpio Tankers during the 2nd quarter worth approximately $1,583,000. Tricadia Capital Management LLC boosted its holdings in shares of Scorpio Tankers by 5.3% during the 2nd quarter. Tricadia Capital Management LLC now owns 2,961,414 shares of the shipping company’s stock worth $11,757,000 after buying an additional 150,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Scorpio Tankers by 58.4% during the 1st quarter. Geode Capital Management LLC now owns 433,147 shares of the shipping company’s stock worth $1,923,000 after buying an additional 159,649 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in shares of Scorpio Tankers by 54.9% during the 1st quarter. OppenheimerFunds Inc. now owns 62,023 shares of the shipping company’s stock worth $275,000 after buying an additional 21,986 shares in the last quarter. Hedge funds and other institutional investors own 56.33% of the company’s stock.
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).
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