Momentum Stock Watch: Scorpio Tankers Inc (STNG)

Company Profile:

Scorpio Tankers Inc., together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 30, 2021, it owned, finance leased, or bareboat chartered 131 product tankers, which included 42 LR2, 12 LR1, 63 MR, and 14 Handymax tankers with a weighted average age of approximately 5.2 years. The company was incorporated in 2009 and is based in Monaco.

Recent News:

For the three months ended September 30, 2021, the Company had a net loss of $73.3 million, or $1.34 basic and diluted loss per share, compared with a net loss of $20.2 million, or $0.37 basic and diluted loss per share for the same period in 2020.

On November 10, 2021, the Company’s Board of Directors declared a quarterly cash dividend of $0.10 per common share, payable on or about December 15, 2021 to all shareholders of record as of December 3, 2021.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

STNG’s strengths can be seen in its better solvency compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in the MACD and Stochastic oscillator. The RSI stands at 58.76 with positive bias. We rate Scorpio Tankers Inc (STNG) a STRONG BUY.

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