Revenue Update on Scorpio Tankers(NYSE:STNG)

Scorpio Tankers(NYSE:STNG) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 13, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $-0.18.

In a different note, On Feb 22, 2017, ABN Amro said it Upgrades its rating on Scorpio Tankers. The shares have been rated ‘Buy’ by the firm. On Jan 17, 2017, Bank of America said it Downgrades its rating on Scorpio Tankers. According to the research note, Bank of America Lowers the price target to $4 per share from a prior target of $5.75. The shares have been rated ‘Underperform’ by the firm.

Scorpio Tankers (STNG) shares turned negative on Wednesdays trading session with the shares closing down -0.01 points or -0.23% at a volume of 26,00,912. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.44. The peak price level was also seen at $4.44 while the days lowest was $4.24. Finally the shares closed at $4.28. The 52-week high of the shares is $6.7 while the 52-week low is $3.5. According to the latest information available, the market cap of the company is $747 M.

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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