Scorpio Tankers Inc. (NYSE:STNG) Receives Consensus Rating of “Moderate Buy” from Analysts

Scorpio Tankers Inc. (NYSE:STNG) has received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $75.40.

Several equities analysts have weighed in on the company. Stifel Nicolaus lowered 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 research note on Wednesday, October 23rd. Bank of America cut their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Evercore ISI dropped their price target 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. Finally, Jefferies Financial Group cut their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday.

Scorpio Tankers Stock Performance

NYSE:STNG opened at $48.31 on Friday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 3.46 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. Scorpio Tankers has a fifty-two week low of $46.66 and a fifty-two week high of $84.67. The company has a 50 day moving average price of $57.53 and a 200 day moving average price of $68.89.

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

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Institutional Trading of Scorpio Tankers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Truist Financial Corp lifted its position in shares of Scorpio Tankers by 1.4% during the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after buying an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after acquiring an additional 177 shares in the last quarter. Quarry LP lifted its position in Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 229 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Scorpio Tankers by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after acquiring an additional 252 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after purchasing an additional 291 shares during the last quarter. 54.64% of the stock is currently 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.