Evercore ISI Has Lowered Expectations for Scorpio Tankers (NYSE:STNG) Stock Price

Scorpio Tankers (NYSE:STNG) had its price target lowered by equities researchers at Evercore ISI from $60.00 to $57.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the shipping company’s stock. Evercore ISI’s target price would indicate a potential upside of 43.29% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group reissued a “buy” rating and set a $65.00 price objective on shares of Scorpio Tankers in a research report on Thursday. Stifel Nicolaus cut their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $60.50.

Scorpio Tankers Stock Performance

Shares of STNG opened at $39.78 on Friday. The firm has a market capitalization of $2.03 billion, a P/E ratio of 3.05 and a beta of -0.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. Scorpio Tankers has a one year low of $30.63 and a one year high of $84.67. The business has a fifty day moving average of $37.39 and a 200 day moving average of $46.58.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. The firm had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business’s revenue for the quarter was down 45.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.97 EPS. As a group, sell-side analysts anticipate that Scorpio Tankers will post 5.29 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Scorpio Tankers by 95.6% in the first quarter. Signaturefd LLC now owns 761 shares of the shipping company’s stock worth $29,000 after buying an additional 372 shares in the last quarter. GAMMA Investing LLC increased its holdings in Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 402 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 770 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.