Revenue Update on Scorpio Tankers(NYSE:STNG)

Scorpio Tankers(NYSE:STNG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $137.21M. Analysts estimated a revenue of $147.36M. Earnings per share were $0.04. Analysts had estimated an EPS of $0.07.

In a different note, On Jul 27, 2016, Jefferies said it Maintains its rating on Scorpio Tankers. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 26, 2016, UBS said it Downgrades its rating on Scorpio Tankers. In the research note, the firm Lowers the price-target to $6.50 per share. The shares have been rated ‘Neutral’ by the firm.

Scorpio Tankers (STNG) made into the market gainers list on Thursdays trading session with the shares advancing 1.02% or 0.05 points. Due to strong positive momentum, the stock ended at $4.95, which is also near the day’s high of $5.06. The stock began the session at $4.92 and the volume stood at 21,56,209 shares. The 52-week high of the shares is $10.84 and the 52 week low is $4.05. The company has a current market capitalization of $853 M and it has 17,23,78,640 shares in outstanding.

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.

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