Scorpio Tankers (STNG) Downgraded to “Strong Sell” at ValuEngine

ValuEngine cut shares of Scorpio Tankers (NYSE:STNG) from a sell rating to a strong sell rating in a report released on Sunday, December 31st.

Several other research analysts have also recently issued reports on the stock. Jefferies Group initiated coverage on shares of Scorpio Tankers in a report on Monday, December 18th. They issued a buy rating and a $5.00 target price for the company. Stifel Nicolaus lowered their target price on shares of Scorpio Tankers from $7.00 to $6.00 and set a buy rating for the company in a report on Wednesday, November 29th. Credit Suisse Group restated a buy rating and issued a $7.00 target price on shares of Scorpio Tankers in a report on Tuesday, September 19th. UBS Group upgraded shares of Scorpio Tankers from a neutral rating to a buy rating and set a $5.50 price target for the company in a research report on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of Scorpio Tankers from a sell rating to a hold rating in a research report on Thursday, November 9th. Three analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. Scorpio Tankers presently has an average rating of Buy and an average price target of $6.28.

Scorpio Tankers (NYSE STNG) opened at $3.23 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Scorpio Tankers has a twelve month low of $2.99 and a twelve month high of $4.79. The company has a market cap of $1,020.00, a P/E ratio of -4.09 and a beta of 1.59.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.24%. Scorpio Tankers’s payout ratio is currently -5.06%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in shares of Scorpio Tankers by 1,628.8% in the 3rd 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 in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Scorpio Tankers by 2,287.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 293,141 shares of the shipping company’s stock valued at $1,005,000 after purchasing an additional 280,865 shares in the last quarter. Monarch Alternative Capital LP purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $32,371,000. Lasry Marc purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $19,205,000. Finally, Caxton Associates LP purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $343,000. Institutional investors and hedge funds own 59.04% of the company’s stock.

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Scorpio Tankers Company Profile

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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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