Scorpio Tankers (NYSE:STNG) Sets New 12-Month Low on Analyst Downgrade

Scorpio Tankers Inc. (NYSE:STNG) reached a new 52-week low during trading on Thursday after Jefferies Financial Group lowered their price target on the stock from $80.00 to $75.00. Jefferies Financial Group currently has a buy rating on the stock. Scorpio Tankers traded as low as $46.81 and last traded at $47.22, with a volume of 41817 shares trading hands. The stock had previously closed at $47.90.

A number of other equities research analysts have also recently issued reports on the company. Evercore ISI dropped their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Bank of America cut their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Scorpio Tankers has a consensus rating of “Hold” and an average target price of $75.40.

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in Scorpio Tankers by 39.4% during the second quarter. CWM LLC now owns 1,791 shares of the shipping company’s stock worth $146,000 after purchasing an additional 506 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Scorpio Tankers during the 2nd quarter worth approximately $1,098,000. Blue Trust Inc. boosted its position in shares of Scorpio Tankers by 7,942.9% during the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock worth $92,000 after acquiring an additional 1,112 shares in the last quarter. Raymond James & Associates increased its stake in Scorpio Tankers by 4.4% in the second quarter. Raymond James & Associates now owns 55,120 shares of the shipping company’s stock valued at $4,481,000 after acquiring an additional 2,302 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Scorpio Tankers by 5,228.3% in the second quarter. Nisa Investment Advisors LLC now owns 74,436 shares of the shipping company’s stock valued at $6,051,000 after acquiring an additional 73,039 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 1.4 %

The firm’s 50-day simple moving average is $58.02 and its 200 day simple moving average is $69.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 3.39 and a beta of 0.13.

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

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.39%. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

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.