In a report released today, Liam Burke from B.Riley FBR reiterated a Buy rating on Scorpio Tankers (STNG – Research Report), with a price target of $55.00. The company’s shares closed last Thursday at $15.84, close to its 52-week low of $12.36.
According to TipRanks.com, Burke has currently no stars on a ranking scale of 0-5 stars, with an average return of -11.5% and a 36.7% success rate. Burke covers the Services sector, focusing on stocks such as Matthews International, Nordic American Tanker, and Dynagas LNG Partners.
Currently, the analyst consensus on Scorpio Tankers is a Moderate Buy with an average price target of $36.14, implying a 90.2% upside from current levels. In a report issued on March 20, BTIG also maintained a Buy rating on the stock with a $30.00 price target.
Based on Scorpio Tankers’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $222 million and net profit of $12.04 million. In comparison, last year the company earned revenue of $168 million and had a GAAP net loss of $17.67 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.