Scorpio Tankers (NYSE:STNG) Shares Down 6.5%

Shares of Scorpio Tankers Inc. (NYSE:STNG) were down 6.5% on Monday . The stock traded as low as $23.12 and last traded at $23.67, approximately 749,953 shares traded hands during trading. A decline of 6% from the average daily volume of 794,818 shares. The stock had previously closed at $25.31.

Several research analysts have recently weighed in on STNG shares. ValuEngine downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. BTIG Research set a $38.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. B. Riley set a $40.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group set a $40.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $34.71.

The business’s 50 day simple moving average is $27.93. The company has a quick ratio of 1.46, a current ratio of 1.15 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $1.30 billion, a PE ratio of -5.19 and a beta of 1.07.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Wednesday, July 31st. The shipping company reported ($0.62) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.09. Scorpio Tankers had a negative return on equity of 5.50% and a negative net margin of 16.52%. The firm had revenue of $150.80 million during the quarter, compared to the consensus estimate of $148.88 million. During the same period in the prior year, the company earned ($0.15) EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Scorpio Tankers Inc. will post -0.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 10th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, September 9th. Scorpio Tankers’s dividend payout ratio is currently -8.77%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. grew its holdings in Scorpio Tankers by 496.1% in the 2nd quarter. Advisor Group Inc. now owns 912 shares of the shipping company’s stock valued at $27,000 after buying an additional 759 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Scorpio Tankers by 35.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,728 shares of the shipping company’s stock valued at $28,000 after buying an additional 4,138 shares in the last quarter. Amalgamated Bank grew its holdings in Scorpio Tankers by 36.4% in the 4th quarter. Amalgamated Bank now owns 54,036 shares of the shipping company’s stock valued at $95,000 after buying an additional 14,407 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Scorpio Tankers in the 1st quarter valued at $96,000. Finally, Aperio Group LLC purchased a new stake in Scorpio Tankers in the 2nd quarter valued at $103,000. 55.42% of the stock is owned by hedge funds and other institutional investors.

About Scorpio Tankers (NYSE:STNG)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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