Scorpio Tankers (STNG) Sets New 12-Month Low at $3.01

Scorpio Tankers Inc. (NYSE:STNG) shares reached a new 52-week low on Thursday . The company traded as low as $3.01 and last traded at $3.03, with a volume of 3776800 shares trading hands. The stock had previously closed at $3.02.

STNG has been the topic of a number of analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $5.50 price objective on shares of Scorpio Tankers in a research report on Tuesday, October 31st. Stifel Nicolaus set a $7.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a research report on Sunday, October 29th. Credit Suisse Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, September 19th. UBS raised Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Monday, November 13th. Finally, Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Scorpio Tankers presently has an average rating of “Buy” and a consensus target price of $6.33.

The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The business had revenue of $123.20 million for the quarter, compared to the consensus estimate of $129.54 million. Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted ($0.11) EPS. research analysts forecast that Scorpio Tankers Inc. will post -0.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio (DPR) is presently -5.06%.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 5.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock worth $57,839,000 after acquiring an additional 875,100 shares during the last quarter. Monarch Alternative Capital LP bought a new stake in Scorpio Tankers in the 3rd quarter worth approximately $32,371,000. FMR LLC increased its stake in Scorpio Tankers by 160.9% in the 2nd quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock worth $29,710,000 after acquiring an additional 4,615,440 shares during the last quarter. Lasry Marc bought a new stake in Scorpio Tankers in the 3rd quarter worth approximately $19,205,000. Finally, Bank of New York Mellon Corp increased its stake in Scorpio Tankers by 656.7% in 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 acquiring an additional 4,209,596 shares during the last quarter. 65.37% of the stock is currently owned by institutional investors and hedge funds.

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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).

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