Scorpio Tankers (NYSE:STNG) Lifted to “Hold” at ValuEngine

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Scorpio Tankers (NYSE:STNG) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday, ValuEngine reports.

STNG has been the subject of a number of other research reports. Zacks Investment Research downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday. Evercore ISI reiterated a “buy” rating on shares of Scorpio Tankers in a research note on Monday, November 11th. Finally, Deutsche Bank lifted their price target on Scorpio Tankers from $35.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Scorpio Tankers currently has a consensus rating of “Buy” and an average price target of $36.71.

STNG stock traded down $2.00 during mid-day trading on Friday, reaching $19.87. 2,072,190 shares of the company traded hands, compared to its average volume of 1,591,294. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -19.11 and a beta of 1.16. The company has a quick ratio of 0.66, a current ratio of 0.68 and a debt-to-equity ratio of 1.38. Scorpio Tankers has a fifty-two week low of $16.77 and a fifty-two week high of $40.45. The firm’s 50 day moving average price is $28.53 and its 200 day moving average price is $30.83.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.35). The company had revenue of $221.60 million for the quarter, compared to analyst estimates of $232.48 million. Scorpio Tankers had a negative net margin of 6.88% and a negative return on equity of 2.50%. Scorpio Tankers’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) EPS. On average, analysts anticipate that Scorpio Tankers will post 3.61 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Granahan Investment Management Inc. MA boosted its stake in shares of Scorpio Tankers by 567.2% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 64,403 shares of the shipping company’s stock worth $1,917,000 after buying an additional 54,750 shares during the last quarter. Man Group plc boosted its stake in shares of Scorpio Tankers by 152.2% in the 3rd quarter. Man Group plc now owns 43,994 shares of the shipping company’s stock worth $1,309,000 after buying an additional 26,550 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Scorpio Tankers by 93.4% in the 3rd quarter. California Public Employees Retirement System now owns 91,104 shares of the shipping company’s stock worth $2,711,000 after buying an additional 43,991 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Scorpio Tankers by 19.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 415,920 shares of the shipping company’s stock worth $12,378,000 after buying an additional 68,568 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $1,381,000. Hedge funds and other institutional investors own 53.03% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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