Scorpio Tankers Inc. (STNG) Receives Average Recommendation of “Buy” from Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned a consensus rating of “Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $30.71.

STNG has been the subject of several recent research reports. JPMorgan Chase & Co. cut Scorpio Tankers from an “overweight” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Wednesday, January 23rd. Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. ValuEngine upgraded Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 19th. Finally, B. Riley upgraded Scorpio Tankers from a “neutral” rating to a “buy” rating and lifted their price target for the company from $22.00 to $25.00 in a research report on Monday, March 4th.

Shares of NYSE:STNG traded down $0.70 during trading on Friday, hitting $18.81. The stock had a trading volume of 60,636 shares, compared to its average volume of 720,370. Scorpio Tankers has a 12-month low of $14.75 and a 12-month high of $32.50. The stock has a market cap of $986.37 million, a price-to-earnings ratio of -4.13 and a beta of 1.00. The company has a quick ratio of 1.52, a current ratio of 1.54 and a debt-to-equity ratio of 1.36.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Thursday, February 14th. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.09. Scorpio Tankers had a negative return on equity of 9.51% and a negative net margin of 32.49%. The firm had revenue of $167.53 million during the quarter, compared to analysts’ expectations of $154.31 million. During the same period last year, the business posted ($0.14) earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts anticipate that Scorpio Tankers will post -0.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, February 13th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, February 12th. Scorpio Tankers’s payout ratio is currently -8.77%.

A number of institutional investors and hedge funds have recently modified their holdings of STNG. BlackRock Inc. grew its holdings in Scorpio Tankers by 1.9% in the third quarter. BlackRock Inc. now owns 14,659,166 shares of the shipping company’s stock valued at $29,465,000 after purchasing an additional 278,847 shares during the period. Schneider Capital Management Corp boosted its stake in shares of Scorpio Tankers by 77.2% in the third quarter. Schneider Capital Management Corp now owns 5,469,548 shares of the shipping company’s stock worth $10,994,000 after acquiring an additional 2,382,581 shares during the last quarter. Evermore Global Advisors LLC boosted its stake in shares of Scorpio Tankers by 40.3% in the third quarter. Evermore Global Advisors LLC now owns 10,107,521 shares of the shipping company’s stock worth $20,316,000 after acquiring an additional 2,903,358 shares during the last quarter. United Services Automobile Association boosted its stake in shares of Scorpio Tankers by 6.2% in the third quarter. United Services Automobile Association now owns 2,267,190 shares of the shipping company’s stock worth $4,557,000 after acquiring an additional 131,560 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Scorpio Tankers in the third quarter worth approximately $540,000.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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