Scorpio Tankers is Upgraded by Morgan Stanley to ” Overweight”

Scorpio Tankers (STNG) was Upgraded by Morgan Stanley to ” Overweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their Clients and Investors in a research report released on Feb 14, 2017.

On the company’s financial health, Scorpio Tankers reported $-0.18 EPS for the quarter, based on the information available during the earnings call on Feb 13, 2017. Analyst had a consensus estimate of $-0.18. The company had revenue of $106.10 million for the quarter, compared to analysts expectations of $108.03 million. The company’s revenue was down -40.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

Scorpio Tankers opened for trading at $3.59 and hit $3.67 on the upside on Friday, eventually ending the session at $3.58, with a gain of 0.56% or 0.02 points. The heightened volatility saw the trading volume jump to 21,52,314 shares. Company has a market cap of $625 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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