It Seems Scorpio Tankers Inc. (STNG) Will Go Down. Just Reaches 52 Week Low

March 14, 2018 - By Marie Mckinney

The stock of Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week low and has $2.11 target or 5.00 % below today’s $2.22 share price. The 8 months bearish chart indicates high risk for the $724.85M company. The 1-year low was reported on Mar, 14 by If the $2.11 price target is reached, the company will be worth $36.24M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 0.91% or $0.02 during the last trading session, reaching $2.22. About 5.41 million shares traded or 36.74% up from the average. Scorpio Tankers Inc. (NYSE:STNG) has declined 23.80% since March 14, 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. (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. had 34 analyst reports since July 21, 2015 according to SRatingsIntel. Jefferies maintained Scorpio Tankers Inc. (NYSE:STNG) on Thursday, November 16 with “Buy” rating. Stifel Nicolaus maintained Scorpio Tankers Inc. (NYSE:STNG) on Monday, September 18 with “Buy” rating. On Friday, November 17 the stock rating was maintained by Morgan Stanley with “Overweight”. Jefferies maintained the shares of STNG in report on Monday, August 28 with “Buy” rating. Deutsche Bank initiated the shares of STNG in report on Tuesday, December 15 with “Hold” rating. Jefferies maintained the stock with “Buy” rating in Monday, July 3 report. As per Thursday, February 15, the company rating was maintained by Credit Suisse. The stock of Scorpio Tankers Inc. (NYSE:STNG) earned “Hold” rating by ABN Amro on Friday, July 1. Jefferies initiated Scorpio Tankers Inc. (NYSE:STNG) on Monday, December 18 with “Buy” rating. The company was maintained on Friday, May 26 by Seaport Global.

Another recent and important Scorpio Tankers Inc. (NYSE:STNG) news was published by which published an article titled: “Scorpio Tankers Inc. (STNG) Ex-Dividend Date Scheduled for March 09, 2018” on March 08, 2018.

Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. The company has market cap of $724.85 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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