Scorpio Tankers Inc. (NYSE:STNG) Receives $88.80 Average PT from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $88.80.

A number of brokerages have commented on STNG. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Stifel Nicolaus increased their price target on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, Bank of America dropped their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd.

Scorpio Tankers Price Performance

Shares of STNG opened at $74.34 on Tuesday. The business’s fifty day moving average is $71.39 and its 200 day moving average is $74.62. Scorpio Tankers has a 12-month low of $47.88 and a 12-month high of $84.67. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.95 billion, a P/E ratio of 6.90, a P/E/G ratio of 1.96 and a beta of 0.16.

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

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s payout ratio is 14.84%.

Hedge Funds Weigh In On Scorpio Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management increased its position in Scorpio Tankers by 8.5% in the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after buying an additional 156,414 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Scorpio Tankers by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after acquiring an additional 62,600 shares during the last quarter. American Century Companies Inc. raised its stake in 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 valued at $96,391,000 after acquiring an additional 199,858 shares during the period. Vanguard Group Inc. raised its stake in Scorpio Tankers by 176.6% in the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after acquiring an additional 549,395 shares during the period. Finally, Hartree Partners LP lifted its holdings in Scorpio Tankers by 634.5% during the first quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock valued at $37,313,000 after purchasing an additional 450,498 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other 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.