Scorpio Tankers Inc. (NYSE:STNG) shares rose 2.2% on Thursday . The stock traded as high as $2.30 and last traded at $2.30. Approximately 5,125,750 shares changed hands during trading, an increase of 20% from the average daily volume of 4,257,685 shares. The stock had previously closed at $2.25.
STNG has been the subject of several research reports. Jefferies Group initiated coverage on Scorpio Tankers in a research note on Monday, December 18th. They set a “buy” rating and a $5.00 price target for the company. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. ValuEngine downgraded Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Stifel Nicolaus set a $5.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley cut their price target on Scorpio Tankers from $5.00 to $3.50 and set an “overweight” rating for the company in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Scorpio Tankers has an average rating of “Buy” and a consensus target price of $5.03.
The firm has a market capitalization of $666.08, a PE ratio of -4.91 and a beta of 1.39. The company has a quick ratio of 1.29, a current ratio of 1.34 and a debt-to-equity ratio of 1.55.
Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, February 14th. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The company had revenue of $148.40 million for the quarter, compared to analysts’ expectations of $148.90 million. Scorpio Tankers had a negative return on equity of 6.73% and a negative net margin of 30.86%. The business’s revenue for the quarter was up 39.9% on a year-over-year basis. During the same period last year, the company posted ($0.18) EPS. analysts anticipate that Scorpio Tankers Inc. will post -0.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Investors of record on Monday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, March 9th. This represents a $0.04 dividend on an annualized basis and a yield of 1.74%. Scorpio Tankers’s dividend payout ratio (DPR) is -8.51%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Scorpio Tankers by 5.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock valued at $57,839,000 after acquiring an additional 875,100 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Scorpio Tankers by 232.0% in the 4th quarter. Bank of New York Mellon Corp now owns 16,105,736 shares of the shipping company’s stock valued at $49,123,000 after acquiring an additional 11,255,133 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Scorpio Tankers by 13.2% in the 4th quarter. BlackRock Inc. now owns 11,138,382 shares of the shipping company’s stock valued at $33,972,000 after acquiring an additional 1,302,536 shares in the last quarter. Boston Partners raised its holdings in shares of Scorpio Tankers by 16.7% in the 4th quarter. Boston Partners now owns 5,356,842 shares of the shipping company’s stock valued at $16,338,000 after acquiring an additional 765,354 shares in the last quarter. Finally, Raging Capital Management LLC purchased a new stake in shares of Scorpio Tankers in the 4th quarter valued at about $15,671,000. 64.75% of the stock is currently owned by institutional investors and hedge funds.
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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).
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