Scorpio Tankers Inc. (NYSE:STNG) Given Average Recommendation of “Moderate Buy” by Analysts

Scorpio Tankers Inc. (NYSE:STNG) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $76.40.

Several research firms recently weighed in on STNG. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Jefferies Financial Group cut their price objective on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Evercore ISI decreased their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th.

Scorpio Tankers Trading Up 1.7 %

NYSE STNG opened at $55.71 on Wednesday. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. Scorpio Tankers has a 52 week low of $52.68 and a 52 week high of $84.67. The business has a 50 day moving average price of $64.69 and a 200-day moving average price of $72.48. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 3.99 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 EPS. As a group, equities analysts expect that Scorpio Tankers will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. Scorpio Tankers’s payout ratio is 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

A number of institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC raised its position in Scorpio Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,587 shares of the shipping company’s stock valued at $614,000 after purchasing an additional 676 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Scorpio Tankers by 4.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,742 shares of the shipping company’s stock worth $1,055,000 after acquiring an additional 640 shares during the period. Blair William & Co. IL bought a new stake in Scorpio Tankers in the first quarter valued at $395,000. Vanguard Group Inc. increased its position in Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after purchasing an additional 549,395 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Scorpio Tankers by 101.4% in the 1st quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company’s stock worth $1,391,000 after purchasing an additional 9,798 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.