Scorpio Tankers Inc. (NYSE:STNG) Receives Consensus Recommendation of “Hold” from Analysts

Scorpio Tankers Inc. (NYSE:STNGGet Rating) has received an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $22.25.

Several brokerages recently weighed in on STNG. Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. BTIG Research lifted their price target on Scorpio Tankers from $24.00 to $28.00 in a research report on Wednesday, March 23rd. StockNews.com began coverage on Scorpio Tankers in a research report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Bank of America upgraded Scorpio Tankers from a “neutral” rating to a “buy” rating and lifted their price target for the company from $15.50 to $23.00 in a research report on Thursday, March 3rd.

Shares of NYSE:STNG opened at $22.70 on Friday. Scorpio Tankers has a 52-week low of $11.02 and a 52-week high of $24.67. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -5.29 and a beta of 0.71. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.16. The business has a 50-day moving average price of $18.57 and a 200-day moving average price of $16.17.

Scorpio Tankers (NYSE:STNGGet Rating) last announced its quarterly earnings results on Sunday, February 13th. The shipping company reported ($0.79) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.01. The company had revenue of $147.90 million during the quarter, compared to analysts’ expectations of $148.19 million. Scorpio Tankers had a negative return on equity of 11.88% and a negative net margin of 43.35%. Scorpio Tankers’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned ($1.04) earnings per share. As a group, equities analysts anticipate that Scorpio Tankers will post -0.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Wednesday, March 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Tuesday, March 1st. Scorpio Tankers’s dividend payout ratio (DPR) is presently -9.32%.

Several institutional investors have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Scorpio Tankers in the fourth quarter worth approximately $28,000. Wilen Investment Management CORP. acquired a new stake in shares of Scorpio Tankers in the third quarter worth approximately $61,000. ProShare Advisors LLC acquired a new stake in shares of Scorpio Tankers in the fourth quarter worth approximately $136,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Scorpio Tankers in the fourth quarter worth approximately $145,000. Finally, First Trust Advisors LP boosted its stake in shares of Scorpio Tankers by 6.8% in the fourth quarter. First Trust Advisors LP now owns 11,681 shares of the shipping company’s stock worth $150,000 after acquiring an additional 742 shares during the last quarter. Institutional investors and hedge funds own 43.85% of the company’s stock.

About Scorpio Tankers (Get Rating)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.

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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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