Scorpio Tankers Inc. (NASDAQ:STNG)‘s stock had its “buy” rating reissued by equities research analysts at Credit Suisse Group AG in a report released on Monday. They presently have a $7.00 target price on the stock. Credit Suisse Group AG’s price objective points to a potential upside of 60.55% from the company’s current price.
A number of other research firms also recently weighed in on STNG. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. ABN Amro downgraded Scorpio Tankers from a “buy” rating to a “sell” rating in a report on Thursday, June 30th. Deutsche Bank AG set a $9.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a report on Monday, August 1st. Clarkson Capital downgraded Scorpio Tankers from a “buy” rating to a “neutral” rating in a report on Monday, October 3rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $4.50 price objective (down from $6.00) on shares of Scorpio Tankers in a report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.88.
Shares of Scorpio Tankers (NASDAQ:STNG) opened at 4.36 on Monday. Scorpio Tankers has a 52-week low of $4.05 and a 52-week high of $9.76. The company has a 50-day moving average price of $4.78 and a 200 day moving average price of $5.18. The firm has a market capitalization of $703.62 million and a PE ratio of 5.00.
Scorpio Tankers (NASDAQ:STNG) last released its earnings results on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.03. The company earned $137.21 million during the quarter, compared to analyst estimates of $146.20 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. The firm’s quarterly revenue was down 27.2% compared to the same quarter last year. Analysts expect that Scorpio Tankers will post $0.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 11.47%. The ex-dividend date of this dividend was Tuesday, September 13th.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IBM Retirement Fund purchased a new position in Scorpio Tankers during the second quarter worth about $108,000. Dynamic Technology Lab Private Ltd purchased a new position in Scorpio Tankers during the second quarter worth about $113,000. FDx Advisors Inc. boosted its position in Scorpio Tankers by 49.9% in the second quarter. FDx Advisors Inc. now owns 30,344 shares of the company’s stock worth $127,000 after buying an additional 10,105 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in Scorpio Tankers during the second quarter worth about $135,000. Finally, Putnam FL Investment Management Co. boosted its position in Scorpio Tankers by 19.3% in the second quarter. Putnam FL Investment Management Co. now owns 33,695 shares of the company’s stock worth $142,000 after buying an additional 5,460 shares during the period.
Scorpio Tankers Company Profile