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STNG

Scorpio Tankers

$1.76

-0.015 (-0.85%)

16:26
10/15/18
10/15
16:26
10/15/18
16:26

Scorpio Tankers to install scrubbers on its tanker vessels

Scorpio Tankers announced that following its entry into an agreement to retrofit 15 of its LR2s with Exhaust Gas Cleaning Systems, it has agreed letters of intent, which are subject to the execution of definitive documentation, with suppliers, engineering firms, and ship repair facilities to cover the purchase and installation of Scrubbers on substantially all of its remaining owned and financed leased LR2, LR1, and MR tanker vessels - approximately 75 vessels - between the second quarter of 2019 and the second quarter of 2020. The Scrubbers and their installation are expected to cost between $1.5M-$2.2M per vessel, and the Company anticipates that between 60-70% of these costs will be financed.

STNG Scorpio Tankers
$1.76

-0.015 (-0.85%)

04/10/18
DBAB
04/10/18
NO CHANGE
DBAB
Buy
Scorpio Tankers pullback offers 'major opportunity,' says Deutsche Bank
Deutsche Bank analyst Amit Mehrotra sees a "major opportunity" in shares of Scorpio Tankers with the stock down 38% year-to-date. Market participants are "rightfully concerned" about the expected step-function increase in cash calls related to debt repayments, Mehrotra tells investors in a research note. The negative implication is that Scorpio will have to do a highly dilutive equity offering to meet increasing cash flows, the analyst adds. However, his analysis implies "significant dislocation" if management is able to extend its run-way, which he believes is "highly probable." Mehrotra keeps a Buy rating on Scorpio Tankers.
04/25/18
DNBM
04/25/18
UPGRADE
DNBM
Buy
Scorpio Tankers upgraded to Buy from Hold at DNB Markets
DNB Markets analyst Nicolay Dyvik upgraded Scorpio Tankers to Buy from Hold.
09/27/18
BTIG
09/27/18
INITIATION
Target $3
BTIG
Buy
Scorpio Tankers initiated with a Buy at BTIG
BTIG analyst Gregory Lewis initiated Scorpio Tankers with a Buy rating and a price target of $3 as part of his broader research note on oil tankers. The analyst notes that after a "tough summer" that saw the company's stock price fall 30% because of "lousy charter rates and a stretched balance sheet", its prospects are looking up. Lewis points to a "thawing" in the medium range, or MR, tanker rates, which he expects to rise by up to 20% in 2019. The analyst is also positive on Scorpio Tankers' capacity as the "largest product tanker operator in the world with 109 owned ships", adding that in the near term, the company should focus on paying down its debt.
10/10/18
DBAB
10/10/18
NO CHANGE
Target $4
DBAB
Buy
Scorpio Tankers equity offering to mark bottom in shares, says Deutsche Bank
Deutsche Bank analyst Amit Mehrotra believes last night's $250M follow-on equity offering will mark the bottom in shares of Scorpio Tankers (STNG). The analyst says the announcement is in-line with his expectations and will likely be a positive catalyst for the stock. The capital raise brings Scorpio's pro forma total cash balance to over $400M, effectively de-risking next year's cash calls, Mehrotra tells investors in a research note. As such, he believes the equity offering "will effectively mark the bottom" for Scorpio Tankers shares, with "good upside potential" over the next 12 months. Mehrotra finds Scorpio Bulkers (SALT) participation in the deal a bit surprising and feels it will not be welcomed by shareholders. The analyst keeps a Buy rating on Scorpio Tankers with a $4 price target.

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