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

Shares of Scorpio Tankers Inc. (NYSE:STNG) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $75.40.

A number of research firms recently issued reports on STNG. Jefferies Financial Group decreased their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Evercore ISI decreased their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Bank of America lowered their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd.

Scorpio Tankers Stock Performance

NYSE STNG opened at $52.34 on Thursday. The firm has a market cap of $2.64 billion, a P/E ratio of 3.75 and a beta of 0.12. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $51.56 and its 200-day moving average is $65.09. Scorpio Tankers has a 12-month low of $45.94 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued 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. The business had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 EPS. Sell-side analysts predict that Scorpio Tankers will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in Scorpio Tankers by 12.7% in the second quarter. Principal Financial Group Inc. now owns 40,424 shares of the shipping company’s stock worth $3,286,000 after acquiring an additional 4,548 shares in the last quarter. Victory Capital Management Inc. raised its position in Scorpio Tankers by 19.1% during the second quarter. Victory Capital Management Inc. now owns 370,909 shares of the shipping company’s stock valued at $30,151,000 after purchasing an additional 59,361 shares in the last quarter. Savant Capital LLC bought a new stake in Scorpio Tankers during the second quarter worth about $439,000. Daiwa Securities Group Inc. boosted its holdings in shares of Scorpio Tankers by 3.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 16,011 shares of the shipping company’s stock worth $1,302,000 after purchasing an additional 544 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Scorpio Tankers by 1,912.2% during the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 937 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

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.