Scorpio Tankers Inc. (NYSE:STNG) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNGGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $82.40.

A number of brokerages have weighed in on STNG. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $65.00 in a report on Wednesday. Bank of America lowered their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday. Jefferies Financial Group restated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Evercore ISI upped their price target 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.

Check Out Our Latest Report on Scorpio Tankers

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp grew its position in Scorpio Tankers by 1.4% in the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock valued at $889,000 after buying an additional 149 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares in the last quarter. Quarry LP boosted 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 valued at $54,000 after purchasing an additional 229 shares in the last quarter. AlphaMark Advisors LLC boosted its position in shares of Scorpio Tankers by 5.9% during the 1st quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock valued at $358,000 after purchasing an additional 281 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 1.1 %

Shares of NYSE:STNG opened at $62.02 on Friday. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 5.75, a price-to-earnings-growth ratio of 1.81 and a beta of 0.15. Scorpio Tankers has a 1-year low of $52.68 and a 1-year high of $84.67. The company’s fifty day moving average is $69.32 and its two-hundred day moving average is $74.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67.

Scorpio Tankers (NYSE:STNGGet Free Report) last issued its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. The company had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.41 earnings per share. Equities analysts anticipate that Scorpio Tankers will post 12.43 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were given a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. Scorpio Tankers’s dividend payout ratio is presently 14.84%.

Scorpio Tankers Company Profile

(Get Free Report

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.

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Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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