Scorpio Tankers (STNG) Earns Neutral Rating from Analysts at B. Riley

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Equities researchers at B. Riley began coverage on shares of Scorpio Tankers (NYSE:STNG) in a research note issued on Friday. The firm set a “neutral” rating and a $2.20 price target on the shipping company’s stock. B. Riley’s target price suggests a potential upside of 10.55% from the stock’s previous close.

STNG has been the subject of several other reports. Deutsche Bank set a $3.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Wednesday, October 31st. Stifel Nicolaus set a $5.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Tuesday, July 31st. ValuEngine upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Zacks Investment Research downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, BTIG Research assumed coverage on shares of Scorpio Tankers in a report on Thursday, September 27th. They set a “buy” rating and a $3.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $3.71.

Shares of STNG opened at $1.99 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 1.59. Scorpio Tankers has a 52-week low of $1.48 and a 52-week high of $3.61. The stock has a market capitalization of $687.49 million, a PE ratio of -4.23 and a beta of 0.96.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, October 31st. The shipping company reported ($0.21) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.21). Scorpio Tankers had a negative net margin of 37.80% and a negative return on equity of 11.07%. The firm had revenue of $119.28 million during the quarter, compared to the consensus estimate of $117.59 million. During the same period last year, the firm posted ($0.15) EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that Scorpio Tankers will post -0.51 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC boosted its position in shares of Scorpio Tankers by 4.4% in the third quarter. Evermore Global Advisors LLC now owns 7,522,860 shares of the shipping company’s stock worth $15,121,000 after acquiring an additional 318,697 shares during the last quarter. United Services Automobile Association boosted its position in shares of Scorpio Tankers by 17.6% in the second quarter. United Services Automobile Association now owns 2,135,630 shares of the shipping company’s stock worth $6,001,000 after acquiring an additional 320,130 shares during the last quarter. Northern Trust Corp boosted its position in shares of Scorpio Tankers by 11.5% in the second quarter. Northern Trust Corp now owns 2,708,036 shares of the shipping company’s stock worth $7,610,000 after acquiring an additional 279,188 shares during the last quarter. Millennium Management LLC boosted its position in shares of Scorpio Tankers by 805.8% in the second quarter. Millennium Management LLC now owns 259,955 shares of the shipping company’s stock worth $730,000 after acquiring an additional 231,256 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Scorpio Tankers by 27.0% in the second quarter. Voya Investment Management LLC now owns 111,860 shares of the shipping company’s stock worth $314,000 after acquiring an additional 23,747 shares during the last quarter. 60.48% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Company Profile

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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