NEW YORK (TheStreet) -- Shares of Scorpio Tankers (STNG) - Get Report are up 9.68% to $4.76 on heavy volume in late-afternoon trading on Thursday after reporting fiscal 2016 second quarter results this morning.
So far today, 7.19 million shares have traded hands vs. the average trading volume of 3.22 million shares.
The company posted adjusted earnings of 4 cents per share for the most recent period, beating analysts' estimates of 3 cents per share.
Scorpio reported revenue of $137.21 million, missing analysts' estimates of $141.89 million.
The company also announced a quarterly cash dividend of 12.5 cents per share, payable on September 29 to all shareholders as of September 15.
Scorpio Tankers is a provider of seaborne transportation of refined petroleum products and crude oil to the international shipping markets.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate SCORPIO TANKERS INC as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: STNG