Scorpio Tankers (STNG) Cut 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 Friday.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus set a $5.00 price objective on Scorpio Tankers and gave the company a buy rating in a research note on Wednesday, January 24th. Jefferies Group started coverage on Scorpio Tankers in a research note on Monday, December 18th. They set a buy rating and a $5.00 price objective for the company. UBS Group upgraded Scorpio Tankers from a neutral rating to a buy rating and set a $5.50 price objective for the company in a research note on Monday, November 13th. Zacks Investment Research upgraded Scorpio Tankers from a sell rating to a hold rating in a research note on Thursday, November 9th. Finally, Morgan Stanley lowered their price objective on Scorpio Tankers from $5.50 to $5.00 and set an overweight rating for the company in a research note on Friday, November 17th. Three equities research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. Scorpio Tankers currently has a consensus rating of Buy and a consensus price target of $6.17.

Shares of Scorpio Tankers (STNG) opened at $2.37 on Friday. Scorpio Tankers has a 12 month low of $2.37 and a 12 month high of $4.79. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $737.30, a P/E ratio of -3.00 and a beta of 1.28.

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

Large investors have recently added to or reduced their stakes in the business. Vitol Holding SARL lifted its holdings in Scorpio Tankers by 4,700.0% during the 3rd quarter. Vitol Holding SARL now owns 1,200,000 shares of the shipping company’s stock worth $4,116,000 after buying an additional 1,175,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Scorpio Tankers by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock worth $57,839,000 after buying an additional 875,100 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Scorpio Tankers by 42.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,451,371 shares of the shipping company’s stock worth $5,762,000 after buying an additional 434,703 shares during the last quarter. Blackstone Group L.P. bought a new position in Scorpio Tankers during the 3rd quarter worth approximately $14,310,000. Finally, Bank of New York Mellon Corp lifted its holdings in Scorpio Tankers by 656.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,850,603 shares of the shipping company’s stock worth $16,637,000 after buying an additional 4,209,596 shares during the last quarter. 59.01% 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).

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

Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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