B.Riley FBR Thinks Scorpio Tankers’ Stock is Going to Recover
In a report released today, Liam Burke from B.Riley FBR maintained a Buy rating on Scorpio Tankers (STNG), with a price target of $45.00. The company’s shares closed last Thursday at $13.04, close to its 52-week low of $12.00.
According to TipRanks.com, Burke has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -6.6% and a 41.6% success rate. Burke covers the Industrial Goods sector, focusing on stocks such as Matthews International, LiqTech International, and Orbital Energy Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Scorpio Tankers with a $25.50 average price target, representing a 90.9% upside. In a report issued on July 28, Deutsche Bank also maintained a Buy rating on the stock with a $27.00 price target.
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Based on Scorpio Tankers’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $254 million and net profit of $46.63 million. In comparison, last year the company earned revenue of $196 million and had a net profit of $14.48 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.