UBS AG upgraded shares of Scorpio Tankers Inc. (NASDAQ:STNG) from a neutral rating to a buy rating in a report issued on Monday morning. They currently have $5.50 target price on the shipping company’s stock.
Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus restated a buy rating and set a $7.00 price objective (down previously from $8.00) on shares of Scorpio Tankers in a report on Wednesday, September 20th. Zacks Investment Research upgraded Scorpio Tankers from a sell rating to a hold rating in a report on Thursday, November 9th. Credit Suisse Group AG set a $7.00 price objective on Scorpio Tankers and gave the company a buy rating in a report on Monday, July 31st. BidaskClub downgraded Scorpio Tankers from a sell rating to a strong sell rating in a report on Friday, July 28th. Finally, Jefferies Group LLC restated a buy rating and set a $5.50 price objective (down previously from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $6.25.
Shares of Scorpio Tankers (STNG) traded down $0.05 on Monday, reaching $3.38. The company’s stock had a trading volume of 3,981,900 shares, compared to its average volume of 3,076,861. Scorpio Tankers has a 12-month low of $3.20 and a 12-month high of $4.93.
Scorpio Tankers (NASDAQ:STNG) last released its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) 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 the consensus estimate of $130.03 million. Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. The business’s revenue for the quarter was down 13.7% compared to the same quarter last year.
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A number of institutional investors have recently made changes to their positions in STNG. Principal Financial Group Inc. grew its holdings in Scorpio Tankers by 5.1% during the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after buying an additional 1,316 shares in the last quarter. MML Investors Services LLC grew its holdings in Scorpio Tankers by 137.2% during the second quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after buying an additional 21,250 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Scorpio Tankers during the second quarter worth $154,000. KCG Holdings Inc. grew its holdings in Scorpio Tankers by 238.6% during the first quarter. KCG Holdings Inc. now owns 45,238 shares of the shipping company’s stock worth $201,000 after buying an additional 31,877 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Scorpio Tankers by 54.9% during the first 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.
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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