Evercore ISI Lowers Scorpio Tankers (NYSE:STNG) Price Target to $80.00

Scorpio Tankers (NYSE:STNG) had its price target decreased by stock analysts at Evercore ISI from $84.00 to $80.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the shipping company’s stock. Evercore ISI’s price target suggests a potential upside of 37.29% from the stock’s previous close.

A number of other brokerages have also issued reports on STNG. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group restated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday. Finally, Bank of America reduced their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.40.

Scorpio Tankers Stock Up 0.3 %

STNG stock opened at $58.27 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.63. The company has a 50-day moving average of $68.60 and a two-hundred day moving average of $73.95. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 4.18 and a beta of 0.15. Scorpio Tankers has a 52-week low of $52.68 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $267.91 million. During the same quarter last year, the firm posted $1.91 EPS. The company’s revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that Scorpio Tankers will post 11.23 EPS for the current year.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently modified their holdings of STNG. International Assets Investment Management LLC boosted its stake in 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 valued at $134,057,000 after buying an additional 1,857,668 shares in the last quarter. LSV Asset Management boosted its stake in shares of Scorpio Tankers by 118.1% in the 1st quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock valued at $131,594,000 after purchasing an additional 995,978 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Scorpio Tankers by 176.6% in the 1st 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 last quarter. Hartree Partners LP grew its holdings in shares of Scorpio Tankers by 634.5% in the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock worth $37,313,000 after purchasing an additional 450,498 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Scorpio Tankers by 1,357.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock worth $23,034,000 after purchasing an additional 264,049 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Company Profile

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.