Scorpio Tankers (STNG) is Reiterated by Cowen to Outperform, Lowers Price Target to $ 10

Scorpio Tankers (STNG) was Reiterated by Cowen to “Outperform” while Lowering the Price Target of the company shares to $ 10 from a previous price target of $13 . Cowen advised their investors in a research report released on Apr 27, 2016.

Many Wall Street Analysts have commented on Scorpio Tankers. Deutsche Bank Upgraded Scorpio Tankers on Feb 18, 2016 to ” Buy”, Price Target of the shares are set at $9.

On the company’s financial health, Scorpio Tankers reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.18. The company had revenue of $1653.10 million for the quarter, compared to analysts expectations of $166.90 million. The company’s revenue was up 928.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Scorpio Tankers opened for trading at $6.29 and hit $6.59 on the upside on Friday, eventually ending the session at $6.57, with a gain of 4.78% or 0.3 points. The heightened volatility saw the trading volume jump to 22,80,485 shares. Company has a market cap of $1,152 M.

Scorpio Tankers Inc. is a provider of seaborne transportation of refined petroleum products and crude oil to the international shipping markets. The Company’s fleet consists of 66 wholly owned tankers (10 LR2 tankers two LR1 tankers 15 Handymax tankers and 39 MR tankers) with a weighted average age of approximately 1.1 years and 20 time chartered-in tankers which it operate (seven Handymax tankers three MR tankers five LR1 tankers and five LR2 tankers). In addition the Company has contracts for the construction of 14 newbuilding product tankers (six MR tankers and eight LR2 tankers) (Newbuilding Program). The Company’s total oil tanker fleet (crude products and product/chemical tankers) consisted of 3138 ships with a combined capacity of 407 million deadweight tonnage.

Scorpio Tankers

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