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

Scorpio Tankers (NYSE:STNG) had its price objective cut by analysts at Jefferies Financial Group from $90.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 45.96% from the company’s current price.

STNG has been the topic of a number of other reports. StockNews.com cut 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. Evercore ISI cut their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, Bank of America dropped their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.40.

Scorpio Tankers Price Performance

Shares of STNG stock traded up $0.65 during trading hours on Thursday, hitting $54.81. 688,023 shares of the company’s stock were exchanged, compared to its average volume of 919,535. The company has a market capitalization of $2.77 billion, a PE ratio of 3.92 and a beta of 0.18. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers has a 12-month low of $52.68 and a 12-month high of $84.67. The business’s 50 day simple moving average is $65.72 and its 200-day simple moving average is $72.93.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $267.91 million. During the same quarter last year, the company earned $1.91 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Scorpio Tankers will post 11.13 earnings per share for the current year.

Institutional Trading of Scorpio Tankers

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Scorpio Tankers by 8,249.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after acquiring an additional 1,857,668 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after buying an additional 549,395 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Scorpio Tankers by 1,357.2% in the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock worth $23,034,000 after buying an additional 264,049 shares during the period. American Century Companies Inc. increased its stake in shares of Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after acquiring an additional 199,858 shares in the last quarter. Finally, Natixis purchased a new position in Scorpio Tankers during the 1st quarter valued at about $13,594,000. 54.64% of the stock is 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.