In a report released today, Randy Giveans from Jefferies maintained a Buy rating on Scorpio Tankers (STNG), with a price target of $20.00. The company’s shares closed last Thursday at $10.94, close to its 52-week low of $10.22.
According to TipRanks.com, Giveans is ranked 0 out of 5 stars with an average return of -15.8% and a 25.0% success rate. Giveans covers the Industrial Goods sector, focusing on stocks such as Navios Maritime Partners, Nordic American Tanker, and International Seaways.
Scorpio Tankers has an analyst consensus of Strong Buy, with a price target consensus of $26.50.
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Based on Scorpio Tankers’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $346 million and net profit of $144 million. In comparison, last year the company earned revenue of $151 million and had a GAAP net loss of $29.72 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.
