Scorpio Tankers (NYSE:STNG) “Buy” Rating Reiterated Today By Bank of America; The PT is $2.75

March 19, 2018 - By Henry Gaston

 Scorpio Tankers (NYSE:STNG)

Scorpio Tankers (NYSE:STNG) Rating Reaffirmed

Recently, In analysts note issued to clients and investors on 19 March, Scorpio Tankers (NYSE:STNG) shares have had their “Buy” Rating restate by expert analysts at Bank of America, who currently has a $2.75 target price per share on firm. This target by Bank of America would indicate the possibile upside of 27.31 % from the stock close price.

Scorpio Tankers Inc. (NYSE:STNG) Ratings Coverage

Among 10 analysts covering Scorpio Tankers Inc. (NYSE:STNG), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Scorpio Tankers Inc. has $13.5 highest and $3.5 lowest target. $7.10’s average target is 228.70% above currents $2.16 stock price. Scorpio Tankers Inc. had 34 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Monday, November 13 by UBS. The stock has “Buy” rating by Seaport Global on Friday, May 26. The firm has “Buy” rating given on Friday, July 21 by Jefferies. The firm earned “Buy” rating on Friday, October 27 by Stifel Nicolaus. Morgan Stanley maintained it with “Overweight” rating and $5 target in Friday, November 17 report. As per Monday, October 30, the company rating was maintained by Jefferies. Jefferies maintained the stock with “Buy” rating in Monday, July 3 report. The company was maintained on Monday, August 28 by Jefferies. As per Tuesday, January 17, the company rating was downgraded by Bank of America. The firm has “Neutral” rating by UBS given on Tuesday, July 26.

The stock decreased 1.37% or $0.03 during the last trading session, reaching $2.16. About 4.14M shares traded or 2.10% up from the average. Scorpio Tankers Inc. (NYSE:STNG) has declined 23.80% since March 19, 2017 and is downtrending. It has underperformed by 40.50% the S&P500.

Analysts await Scorpio Tankers Inc. (NYSE:STNG) to report earnings on April, 25. They expect $-0.05 earnings per share, up 28.57 % or $0.02 from last year’s $-0.07 per share. After $-0.14 actual earnings per share reported by Scorpio Tankers Inc. for the previous quarter, Wall Street now forecasts -64.29 % EPS growth.

Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. The company has market cap of $705.26 million. As of March 15, 2017, it owned 78 tankers comprising 22 LR2 tankers, 14 Handymax tankers, and 42 MR tankers with an average age of approximately 2.3 years; and 19 time chartered-in tankers, including 9 Handymax, 8 MR, 1 LR1, and 1 LR2 tankers. It currently has negative earnings.

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