In a report released on January 16, Benjamin Nolan from Stifel Nicolaus maintained a Buy rating on Scorpio Tankers (STNG – Research Report), with a price target of $68.00. The company’s shares closed yesterday at $52.58.
Nolan covers the Industrial Goods sector, focusing on stocks such as Scorpio Tankers, Eagle Bulk Shipping, and Ardmore Shipping. According to TipRanks, Nolan has an average return of 18.8% and a 60.63% success rate on recommended stocks.
Currently, the analyst consensus on Scorpio Tankers is a Strong Buy with an average price target of $67.67.
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Based on Scorpio Tankers’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $490 million and a net profit of $266.17 million. In comparison, last year the company earned a revenue of $119.27 million and had a GAAP net loss of $73.27 million
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Scorpio Tankers, Inc. engages in the provision of marine transportation of petroleum products. It operates through the following segments: Handymax, MR, LR1/Panamax, and LR2/Aframax. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.
Read More on STNG:
- Scorpio Tankers price target raised to $55 from $52 at Deutsche Bank
- Scorpio Tankers Announces Repurchases of Its Common Shares
- Scorpio Tankers announces purchase of shares in open market
- Scorpio Tankers Inc. Announces Update on Daily TCE Revenues and Securities Repurchase Program
- Scorpio Tankers announces stock purchases of 415K shares, credit facility
