Scorpio Tankers (STNG) Receives ‘Analyst’ Rating

Scorpio Tankers (STNG) has an average broker rating of 1.44, which is interpreted as a Strong Buy, as rated by 9 equity analysts. Nonetheless, 7 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Scorpio Tankers (STNG) has been rated by 9 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $10 and the lowest price target forecast is $5. The average forecast of all the analysts is $7.56 and the expected standard deviation is $1.96.


Also, Equity analysts at the Brokerage firm Jefferies maintains its rating on Scorpio Tankers (NYSE:STNG). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Jefferies lowers the price target from $10 per share to $7 per share. The rating by the firm was issued on July 27, 2016.

Scorpio Tankers (NYSE:STNG): After opening at $4.67, the stock dipped to an intraday low of $4.55 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $4.69 and the buying power remained strong till the end. The stock closed at $4.68 for the day, a gain of 1.08% for the day session. The total traded volume was 2,660,701. The stocks close on the previous trading day was $4.63.

Scorpio Tankers Inc. is a provider of seaborne transportation of refined petroleum products and crude oil to the international shipping markets. The Companys 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 Companys total oil tanker fleet (crude, products and product/chemical tankers) consisted of 3,138 ships with a combined capacity of 407 million deadweight tonnage.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.