Scorpio Tankers (STNG) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Scorpio Tankers (NYSE:STNG) from a sell rating to a strong sell rating in a report issued on Friday morning.

A number of other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Scorpio Tankers from a hold rating to a sell rating in a research note on Wednesday, December 20th. Stifel Nicolaus cut their price target on shares of Scorpio Tankers from $7.00 to $6.00 and set a buy rating for the company in a research note on Wednesday, November 29th. BidaskClub cut shares of Scorpio Tankers from a sell rating to a strong sell rating in a research note on Friday, October 27th. Morgan Stanley dropped their price objective on shares of Scorpio Tankers from $5.50 to $5.00 and set an overweight rating on the stock in a research report on Friday, November 17th. Finally, Jefferies Group started coverage on shares of Scorpio Tankers in a research report on Monday, December 18th. They issued a buy rating and a $5.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $6.17.

Shares of Scorpio Tankers (STNG) opened at $2.36 on Friday. The company has a market cap of $744.81, a price-to-earnings ratio of -2.99 and a beta of 1.29. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99. Scorpio Tankers has a 12 month low of $2.34 and a 12 month high of $4.79.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, November 16th. The shipping company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The firm had revenue of $123.20 million during the quarter, compared to analyst estimates of $129.54 million. Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS. equities research analysts expect that Scorpio Tankers will post -0.4 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its position in shares of Scorpio Tankers by 8.8% in the fourth quarter. American Century Companies Inc. now owns 2,484,493 shares of the shipping company’s stock valued at $7,578,000 after purchasing an additional 201,107 shares during the period. Boston Partners raised its position in shares of Scorpio Tankers by 16.7% in the fourth quarter. Boston Partners now owns 5,356,842 shares of the shipping company’s stock valued at $16,338,000 after purchasing an additional 765,354 shares during the period. Peregrine Capital Management LLC raised its position in shares of Scorpio Tankers by 27.7% in the fourth quarter. Peregrine Capital Management LLC now owns 2,009,972 shares of the shipping company’s stock valued at $6,130,000 after purchasing an additional 436,261 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Scorpio Tankers by 38.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 920,056 shares of the shipping company’s stock valued at $2,807,000 after purchasing an additional 254,119 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of Scorpio Tankers by 1,628.8% in the third quarter. GSA Capital Partners LLP now owns 669,353 shares of the shipping company’s stock valued at $2,296,000 after purchasing an additional 630,636 shares during the period. 58.93% of the stock is currently owned by institutional investors.

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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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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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