Scorpio Tankers (NYSE:STNG) Trading Up 3.9%

Scorpio Tankers Inc. (NYSE:STNG)’s share price was up 3.9% on Friday . The company traded as high as $16.41 and last traded at $16.41. Approximately 4,015 shares were traded during trading, a decline of 100% from the average daily volume of 1,182,662 shares. The stock had previously closed at $15.79.

A number of analysts have recently weighed in on STNG shares. DNB Markets raised Scorpio Tankers from a “hold” rating to a “buy” rating and cut their price objective for the stock from $25.00 to $21.00 in a research report on Friday, August 6th. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $24.00 to $15.00 in a research report on Thursday, August 5th. Deutsche Bank Aktiengesellschaft downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Thursday, August 5th. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Scorpio Tankers in a research note on Friday, July 23rd. Finally, Evercore ISI reiterated a “buy” rating and set a $24.00 target price on shares of Scorpio Tankers in a research note on Sunday, August 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers currently has an average rating of “Buy” and a consensus target price of $23.11.

The company has a debt-to-equity ratio of 1.11, a current ratio of 0.71 and a quick ratio of 0.69. The company has a market cap of $959.12 million, a price-to-earnings ratio of -4.23 and a beta of 1.10. The firm’s 50 day simple moving average is $15.96 and its 200-day simple moving average is $18.56.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, August 5th. The shipping company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.01). Scorpio Tankers had a negative return on equity of 9.07% and a negative net margin of 35.92%. The business had revenue of $138.05 million for the quarter, compared to analyst estimates of $148.57 million. On average, analysts forecast that Scorpio Tankers Inc. will post -3.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Thursday, September 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. Scorpio Tankers’s dividend payout ratio (DPR) is 19.80%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank acquired a new stake in shares of Scorpio Tankers during the first quarter worth about $30,000. Meeder Asset Management Inc. raised its holdings in Scorpio Tankers by 302.8% during the second quarter. Meeder Asset Management Inc. now owns 3,037 shares of the shipping company’s stock worth $67,000 after purchasing an additional 2,283 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in Scorpio Tankers by 3.6% during the second quarter. Parametric Portfolio Associates LLC now owns 66,549 shares of the shipping company’s stock worth $1,467,000 after purchasing an additional 2,333 shares in the last quarter. Boston Partners raised its holdings in Scorpio Tankers by 6.2% during the second quarter. Boston Partners now owns 55,068 shares of the shipping company’s stock worth $1,215,000 after purchasing an additional 3,198 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Scorpio Tankers by 2.3% during the first quarter. Bank of New York Mellon Corp now owns 151,127 shares of the shipping company’s stock worth $2,790,000 after purchasing an additional 3,430 shares in the last quarter. Institutional investors and hedge funds own 45.34% of the company’s stock.

About Scorpio Tankers (NYSE:STNG)

Scorpio Tankers, Inc engages in the provision of marine transportation of petroleum products. It operates through the following segments: Handymax, MR, LR1/Panamax, and LR2/Aframax. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.

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