Scorpio Tankers Inc. (NYSE:STNG) Receives Average Recommendation of “Hold” from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been given a consensus rating of “Hold” by the five brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $68.75.

Several brokerages recently commented on STNG. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus cut their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th.

Scorpio Tankers Price Performance

STNG stock opened at $40.00 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 3.07 and a beta of 0.01. The firm has a 50 day moving average price of $44.57 and a 200-day moving average price of $53.68. Scorpio Tankers has a 52-week low of $37.14 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. Equities research analysts forecast that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Friday, March 7th. Scorpio Tankers’s payout ratio is presently 12.27%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC raised its stake in Scorpio Tankers by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after buying an additional 252 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Scorpio Tankers by 212.2% in the third quarter. Advisors Asset Management Inc. now owns 2,023 shares of the shipping company’s stock worth $144,000 after acquiring an additional 1,375 shares during the period. Intech Investment Management LLC purchased a new stake in Scorpio Tankers during the third quarter valued at $1,339,000. Massachusetts Financial Services Co. MA increased its position in Scorpio Tankers by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 35,936 shares of the shipping company’s stock valued at $2,562,000 after acquiring an additional 2,467 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Scorpio Tankers by 120.1% in the third quarter. Citigroup Inc. now owns 58,576 shares of the shipping company’s stock valued at $4,176,000 after acquiring an additional 31,960 shares during the period. Institutional investors own 54.64% of the company’s stock.

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.