Scorpio Tankers Inc. (NYSE:STNG) was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $5.50 price objective on the shipping company’s stock. UBS AG’s target price indicates a potential upside of 63.69% from the company’s current price.
Several other equities research analysts have also recently issued reports on the stock. Credit Suisse Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Stifel Nicolaus set a $8.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Monday, August 28th. BidaskClub raised shares of Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.50 price objective (down from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. Finally, Zacks Investment Research cut shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $6.25.
Shares of Scorpio Tankers (STNG) opened at $3.36 on Monday. Scorpio Tankers has a 1 year low of $3.20 and a 1 year high of $4.93. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.36.
Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). The firm had revenue of $118.40 million for the quarter, compared to analysts’ expectations of $130.03 million. Scorpio Tankers had a negative return on equity of 5.63% and a negative net margin of 29.58%. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. research analysts expect that Scorpio Tankers will post -0.23 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in 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 acquiring an additional 667,860 shares in the last quarter. Front Barnett Associates LLC acquired a new stake in Scorpio Tankers during the 2nd quarter worth $1,583,000. Tricadia Capital Management LLC raised its stake in 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 acquiring an additional 150,000 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 acquiring an additional 159,649 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in 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 acquiring an additional 21,986 shares in the last quarter. Hedge funds and other institutional investors own 53.33% 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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