Notable Mover: Does Scorpio Tankers Inc. Have Any Gas After Making Yearly Low?

Notable Mover: Does Scorpio Tankers Inc. Have Any Gas After Making Yearly Low?

The stock of Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week low and has $3.65 target or 7.00% below today’s $3.93 share price. The 7 months bearish chart indicates high risk for the $671.24 million company. The 1-year low was reported on Oct, 28 by Barchart.com. If the $3.65 price target is reached, the company will be worth $46.99M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 5.84 million shares traded hands or 133.60% up from the average. Scorpio Tankers Inc. (NYSE:STNG) has declined 25.93% since March 28, 2016 and is downtrending. It has underperformed by 30.64% the S&P500.

Analysts await Scorpio Tankers Inc. (NYSE:STNG) to report earnings on November, 2. They expect $-0.05 EPS, down 110.87% or $0.51 from last year’s $0.46 per share. After $0.04 actual EPS reported by Scorpio Tankers Inc. for the previous quarter, Wall Street now forecasts -225.00% negative EPS growth.

Scorpio Tankers Inc. (NYSE:STNG) Ratings Coverage

Out of 5 analysts covering Scorpio Tankers Inc. (NYSE:STNG), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Scorpio Tankers Inc. has been the topic of 8 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Thursday, February 18, the company rating was upgraded by Deutsche Bank. The stock has “Neutral” rating given by UBS on Tuesday, July 26. Bank of America initiated the shares of STNG in a report on Tuesday, July 21 with “Buy” rating. The firm has “Buy” rating given on Wednesday, July 27 by Jefferies. Deutsche Bank initiated it with “Hold” rating and $9.0 target price in Tuesday, December 15 report. The rating was upgraded by ABN Amro to “Hold” on Friday, July 1.

According to Zacks Investment Research, “Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. The Company’s initial fleet consists of three modern panamax tankers. Its vessels carry petroleum products and crude oil for integrated oil companies, oil traders, and other customers. Scorpio Tankers Inc. is headquartered in Monaco, Scorpio.”

Another recent and important Scorpio Tankers Inc. (NYSE:STNG) news was published by Finance.Yahoo.com which published an article titled: “Scorpio Tankers Inc. Announces a Commitment for a New Loan Facility” on July 06, 2016.

STNG Company Profile

Scorpio Tankers Inc. (Scorpio Tankers), incorporated on July 1, 2009, is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Firm operates through four divisions: Handymax, MR, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.

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