Scorpio Tankers (NYSE:STNG) Rating Lowered to “Hold” at Zacks Research

Scorpio Tankers (NYSE:STNG) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America upgraded shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and increased their target price for the stock from $76.00 to $100.00 in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Dnb Carnegie cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Jefferies Financial Group began coverage on shares of Scorpio Tankers in a report on Friday, April 24th. They set a “buy” rating and a $90.00 price objective for the company. Finally, BTIG Research lifted their target price on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Scorpio Tankers Stock Performance

Shares of NYSE:STNG opened at $78.64 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87. The business’s fifty day moving average price is $78.47 and its two-hundred day moving average price is $68.66. Scorpio Tankers has a fifty-two week low of $38.83 and a fifty-two week high of $87.39. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.73 and a beta of -0.26.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The company had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue was up 46.2% on a year-over-year basis. As a group, analysts predict that Scorpio Tankers will post 11.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Scorpio Tankers by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock worth $165,064,000 after purchasing an additional 7,868 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Scorpio Tankers by 7.1% in the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock valued at $70,053,000 after purchasing an additional 83,294 shares in the last quarter. Ticino Wealth acquired a new stake in shares of Scorpio Tankers in the fourth quarter valued at approximately $9,526,000. DNB Asset Management AS raised its position in Scorpio Tankers by 828.3% in the 3rd quarter. DNB Asset Management AS now owns 306,299 shares of the shipping company’s stock worth $17,171,000 after purchasing an additional 273,302 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Scorpio Tankers by 7.6% in the 3rd quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after purchasing an additional 135,123 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.