Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned a consensus rating of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.20.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Morgan Stanley dropped their price target on shares of Scorpio Tankers from $3.00 to $2.70 and set an “overweight” rating for the company in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Bank of America dropped their price target on shares of Scorpio Tankers from $3.75 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus set a $5.00 price target on shares of Scorpio Tankers and gave the company a “buy” rating in a research report on Tuesday, July 31st.

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in Scorpio Tankers by 321.5% in the first quarter. SG Americas Securities LLC now owns 60,854 shares of the shipping company’s stock worth $119,000 after acquiring an additional 46,417 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Scorpio Tankers by 48.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,363,492 shares of the shipping company’s stock worth $2,673,000 after buying an additional 443,436 shares during the last quarter. Northern Trust Corp lifted its position in shares of Scorpio Tankers by 9.1% during the 1st quarter. Northern Trust Corp now owns 2,428,848 shares of the shipping company’s stock worth $4,760,000 after buying an additional 201,712 shares during the last quarter. BlackRock Inc. raised its position in Scorpio Tankers by 8.9% in the 1st quarter. BlackRock Inc. now owns 12,131,850 shares of the shipping company’s stock valued at $23,779,000 after purchasing an additional 993,468 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Scorpio Tankers by 24.4% in the 1st quarter. New York State Common Retirement Fund now owns 291,800 shares of the shipping company’s stock valued at $572,000 after purchasing an additional 57,300 shares during the last quarter. Hedge funds and other institutional investors own 60.65% of the company’s stock.

Scorpio Tankers stock traded down $0.06 during midday trading on Friday, hitting $2.04. 7,192 shares of the stock were exchanged, compared to its average volume of 1,999,578. Scorpio Tankers has a fifty-two week low of $1.80 and a fifty-two week high of $3.73. The stock has a market cap of $699.74 million, a P/E ratio of -4.47 and a beta of 1.09. The company has a current ratio of 0.73, a quick ratio of 0.71 and a debt-to-equity ratio of 1.51.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Tuesday, July 31st. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). Scorpio Tankers had a negative return on equity of 9.08% and a negative net margin of 31.44%. The firm had revenue of $141.80 million for the quarter, compared to analyst estimates of $144.35 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. Scorpio Tankers’s revenue for the quarter was up 19.8% on a year-over-year basis. analysts forecast that Scorpio Tankers will post -0.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 20th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, September 19th. Scorpio Tankers’s dividend payout ratio (DPR) is currently -8.51%.

About Scorpio Tankers

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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