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

Scorpio Tankers Inc. (NYSE:STNG) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $75.40.

Several research analysts have issued reports on the stock. Bank of America lowered their price target 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. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Jefferies Financial Group decreased their price target on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, Evercore ISI decreased their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Scorpio Tankers in the third quarter valued at $28,000. Fifth Third Bancorp lifted its stake in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares in the last quarter. Quarry LP grew its holdings in shares of Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Scorpio Tankers by 34.2% during the second 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. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

STNG stock opened at $47.24 on Friday. The company has a market capitalization of $2.39 billion, a P/E ratio of 3.39 and a beta of 0.13. The company has a fifty day moving average price of $55.58 and a 200-day moving average price of $68.03. 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 52-week low of $45.94 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its 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. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. During the same period in the previous year, the business earned $1.91 EPS. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts expect that Scorpio Tankers will post 11.04 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a $0.40 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.39%. Scorpio Tankers’s payout ratio is currently 11.47%.

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.