Jefferies Financial Group Has Lowered Expectations for Scorpio Tankers (NYSE:STNG) Stock Price

Scorpio Tankers (NYSE:STNG) had its target price lowered by research analysts at Jefferies Financial Group from $80.00 to $75.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 55.25% from the company’s previous close.

Other research analysts have also issued reports about the stock. Evercore ISI reduced their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, Bank of America reduced their target price 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.40.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $48.31 on Thursday. The firm’s fifty day moving average price is $57.53 and its 200 day moving average price is $68.98. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 3.46 and a beta of 0.13. Scorpio Tankers has a 12-month low of $46.66 and a 12-month high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

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

Institutional Trading of Scorpio Tankers

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

About Scorpio Tankers

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.