TheStreet Upgrades Scorpio Tankers (NYSE:STNG) to “C”

TheStreet upgraded shares of Scorpio Tankers (NYSE:STNGGet Rating) from a d+ rating to a c rating in a report published on Thursday morning, TheStreetRatingsTable reports.

Several other brokerages have also commented on STNG. StockNews.com upgraded Scorpio Tankers from a sell rating to a hold rating in a report on Thursday, April 28th. Jefferies Financial Group reissued a maintains rating on shares of Scorpio Tankers in a report on Thursday. Clarkson Capital restated a buy rating on shares of Scorpio Tankers in a report on Tuesday, June 14th. HC Wainwright lifted their target price on shares of Scorpio Tankers from $28.00 to $38.00 in a research note on Friday, April 29th. Finally, Stifel Nicolaus upped their price target on shares of Scorpio Tankers from $39.00 to $43.00 in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $34.06.

Scorpio Tankers Price Performance

STNG opened at $38.61 on Thursday. The firm has a market capitalization of $2.25 billion, a PE ratio of -8.29 and a beta of 0.47. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.16 and a quick ratio of 1.13. The business’s 50-day moving average is $35.18 and its two-hundred day moving average is $24.94. Scorpio Tankers has a 1 year low of $11.02 and a 1 year high of $42.01.

Scorpio Tankers (NYSE:STNGGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The shipping company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. Scorpio Tankers had a negative net margin of 44.17% and a negative return on equity of 10.00%. The firm had revenue of $405.80 million for the quarter, compared to the consensus estimate of $333.11 million. During the same quarter in the previous year, the firm earned ($0.94) EPS. The company’s quarterly revenue was up 191.1% compared to the same quarter last year. Research analysts anticipate that Scorpio Tankers will post 4.03 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 10th. Scorpio Tankers’s dividend payout ratio is currently -8.58%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in Scorpio Tankers by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,578,947 shares of the shipping company’s stock valued at $55,136,000 after buying an additional 57,184 shares in the last quarter. State Street Corp increased its stake in shares of Scorpio Tankers by 19.0% in the 1st quarter. State Street Corp now owns 930,715 shares of the shipping company’s stock valued at $19,899,000 after purchasing an additional 148,367 shares in the last quarter. Royce & Associates LP raised its holdings in Scorpio Tankers by 2.2% in the 1st quarter. Royce & Associates LP now owns 608,276 shares of the shipping company’s stock worth $13,005,000 after purchasing an additional 13,000 shares during the period. Peregrine Capital Management LLC boosted its position in Scorpio Tankers by 11.4% during the first quarter. Peregrine Capital Management LLC now owns 567,455 shares of the shipping company’s stock worth $12,132,000 after purchasing an additional 58,008 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Scorpio Tankers by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 463,377 shares of the shipping company’s stock valued at $9,907,000 after purchasing an additional 26,470 shares during the period. 42.80% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Company Profile

(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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