Analysts Set Scorpio Tankers Inc. (NYSE:STNG) Price Target at $76.40

Shares of Scorpio Tankers Inc. (NYSE:STNG) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $76.40.

Several analysts have recently issued reports on STNG shares. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Jefferies Financial Group reduced their target price on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Bank of America dropped their price target 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. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Finally, Evercore ISI cut their target price 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.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 291 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers during the 3rd quarter valued at $28,000. Fifth Third Bancorp lifted its holdings in shares of Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares during the period. Quarry LP grew its position in shares of Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after buying an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake 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 valued at $57,000 after buying an additional 177 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Trading Down 0.3 %

Shares of STNG opened at $52.74 on Wednesday. Scorpio Tankers has a 1 year low of $52.07 and a 1 year high of $84.67. The company has a 50 day simple moving average of $63.84 and a two-hundred day simple moving average of $72.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a market cap of $2.66 billion, a P/E ratio of 3.78 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last announced its quarterly 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. 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 quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 EPS. On average, equities analysts expect that Scorpio Tankers will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a $0.40 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.03%. Scorpio Tankers’s payout ratio is 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.