Scorpio Tankers (NYSE:STNG) Earns “Buy” Rating from Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $90.00 price objective on the shipping company’s stock.

A number of other equities research analysts also recently weighed in on the company. Bank of America lowered their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price target for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, Evercore ISI increased their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.40.

Scorpio Tankers Stock Up 0.3 %

Shares of NYSE STNG opened at $58.27 on Tuesday. The company’s 50 day moving average price is $68.60 and its 200-day moving average price is $73.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.63 and a current ratio of 2.21. Scorpio Tankers has a 52-week low of $52.68 and a 52-week high of $84.67. The company has a market capitalization of $2.94 billion, a P/E ratio of 4.18 and a beta of 0.15.

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 the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same quarter in the previous year, the business earned $1.91 earnings per share. Scorpio Tankers’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts forecast that Scorpio Tankers will post 11.23 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

A number of institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Scorpio Tankers during the 3rd quarter worth $28,000. Fifth Third Bancorp raised its holdings 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 purchasing an additional 319 shares during the last quarter. Quarry LP raised its holdings in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds 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.