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

Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $84.17.

STNG has been the subject of a number of recent research reports. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Stifel Nicolaus raised their price target on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Evercore ISI upped their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Bank of America dropped their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th.

Scorpio Tankers Stock Up 0.9 %

NYSE:STNG opened at $67.62 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 6.27, a price-to-earnings-growth ratio of 1.83 and a beta of 0.16. Scorpio Tankers has a one year low of $47.88 and a one year high of $84.67. The stock has a 50-day simple moving average of $73.58 and a 200 day simple moving average of $74.44.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.08. The firm had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the business posted $2.41 earnings per share. Sell-side analysts predict that Scorpio Tankers will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. Scorpio Tankers’s payout ratio is 14.84%.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of STNG. Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,760,429 shares of the shipping company’s stock valued at $228,634,000 after buying an additional 47,046 shares during the period. LSV Asset Management boosted its holdings in shares of Scorpio Tankers by 8.5% in the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock valued at $162,222,000 after acquiring an additional 156,414 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Scorpio Tankers by 5.0% during the second quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock valued at $106,800,000 after acquiring an additional 62,600 shares during the period. American Century Companies Inc. raised its holdings in Scorpio Tankers by 20.3% during the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after purchasing an additional 199,858 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after purchasing an additional 549,395 shares during the period. 54.64% of the stock is currently owned by institutional investors.

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.