Brokerage firm UBS Downgrades its rating on Scorpio Tankers(NYSE:STNG). In a research note issued to the investors, the brokerage major Lowers the price-target to $5.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by UBS was issued on Jul 26, 2016.
Scorpio Tankers (STNG) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.42% at a volume of 58,20,037. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.8. The peak price level was also seen at $4.8 while the days lowest was $4.67. Finally the shares closed at $4.76. The 52-week high of the shares is $11.53 while the 52-week low is $4.05. According to the latest information available, the market cap of the company is $824 M.
Scorpio Tankers(STNG) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $165.13M. Analysts had an estimated revenue of $168.95M. Earnings per share were $0.18. Analysts had estimated an EPS of $0.19.
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.