The stock of Scorpio Tankers Inc. (NYSE:STNG) reached all time low today, Oct, 28 and still has $3.73 target or 6.00% below today’s $3.97 share price. This indicates more downside for the $677.21M company. This technical setup was reported by Barchart.com. If the $3.73 PT is reached, the company will be worth $40.63 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 6.60 million shares traded hands or 164.00% 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 earnings per share, down 110.87% or $0.51 from last year’s $0.46 per share. After $0.04 actual earnings per share 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. Deutsche Bank initiated the shares of STNG in a report on Tuesday, December 15 with “Hold” rating. UBS downgraded the stock to “Neutral” rating in Tuesday, July 26 report. The firm has “Buy” rating given on Tuesday, July 21 by Bank of America. ABN Amro upgraded the shares of STNG in a report on Friday, July 1 to “Hold” rating. Deutsche Bank upgraded Scorpio Tankers Inc. (NYSE:STNG) on Thursday, February 18 to “Buy” rating. Jefferies maintained the shares of STNG in a report on Wednesday, July 27 with “Buy” rating.
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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