Scorpio Tankers (NYSE:STNG) Downgraded by StockNews.com to Hold


Scorpio Tankers (NYSE:STNG – Get Rating) was downgraded from a “buy” rating to a “hold” rating by equity analysts at StockNews.com in a note issued to investors on Saturday.

Several other research analysts also recently commented on STNG. Clarkson Capital reiterated a “buy” rating on shares of Scorpio Tankers in a research report on Tuesday, June 14th. BTIG Research raised its target price on Scorpio Tanker to $50.00 from $42.00 and gave the company a buy rating in a research report on Thursday, July 28. TheStreet upgraded Scorpio Tankers from a “d+” rating to a “c” rating in a research report on Thursday 28 July. Deutsche Bank Aktiengesellschaft increased its price target on Scorpio Tanker to $34.00 from $10.50 and gave the company a sell rating in a research report on Tuesday, September 6th. Finally, Jefferies Financial Group raised its price target on Scorpio Tankers to $57.00 from $50.00 and gave the company a buy rating in a research report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, one with a hold rating and five with a buy rating. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target of $42.14.

Inventory of Scorpio tankers decreased by 10.8%

Scorpio Tankers shares opened at $39.60 on Friday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -62.86, a P/E ratio of 0.09 and a beta of 0.48. The company has a leverage ratio of 0.49, a current ratio of 1.53 and a quick ratio of 1.50. Scorpio Tankers has a 52-week low of $11.02 and a 52-week high of $46.30. The stock has a 50-day simple moving average of $41.08 and a 200-day simple moving average of $32.26.

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Scorpio Tankers (NYSE:STNG – Get Rating) last released its earnings results on Thursday, July 28th. The shipping company reported earnings per share of $3.13 for the quarter, beating the consensus estimate of $2.88 by $0.25. Scorpio Tankers had a positive return on equity of 3.32% and a negative net margin of 1.49%. The company had revenue of $405.80 million for the quarter, compared to analyst estimates of $333.11 million. For the same period last year, the company earned ($0.94) EPS. The company’s revenue for the quarter rose 191.1% year over year. On average, equity analysts expect Scorpio Tankers to report earnings per share of $8.98 for the current fiscal year.

Hedge funds attack Scorpio tankers

Institutional investors and hedge funds have recently bought and sold shares in the company. Schroder Investment Management Group increased its stake in Scorpio Tankers by 24.1% in the fourth quarter. The Schroder Investment Management Group now owns 78,737 shares of the shipping company, valued at $1,008,000, after purchasing a further 15,306 shares last quarter. Shepherd Kaplan Krochuk LLC increased its stake in Scorpio Tankers by 197.4% during the fourth quarter. Shepherd Kaplan Krochuk LLC now owns 150,047 shares of the shipping company valued at $1,922,000 after purchasing an additional 99,600 shares during the period. TCW Group Inc. increased its stake in Scorpio Tankers by 7.6% in the first quarter. TCW Group Inc. now owns 423,040 shares of the shipping company valued at $9,045,000 after purchasing an additional 30,000 shares during the period. DnB Asset Management AS acquired a new position in Scorpio Tankers stock valued at $15,158,000 during the second quarter. Finally, Key Square Capital Management LLC acquired a new position in Scorpio Tankers stock valued at $1,515,000 during the first quarter. Institutional investors and hedge funds own 50.20% of the company’s shares.

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Company profile of Scorpio Tankers

(received rating)

Scorpio Tankers Inc, together with its subsidiaries, is engaged in the marine transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022 the Company’s fleet consisted of 124 owned finance leased or bareboat chartered tankers including 42 LR2, 6 LR1, 62 MR and 14 Handymax with a weighted average age of approximately 6.2 years.

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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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