Scorpio Tankers’ (STNG) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a $65.00 price objective on the shipping company’s stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus dropped their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Evercore ISI dropped their price target on Scorpio Tankers from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Scorpio Tankers presently has an average rating of “Hold” and an average target price of $60.50.

Scorpio Tankers Price Performance

STNG stock opened at $39.78 on Thursday. The business has a 50 day moving average price of $37.39 and a 200 day moving average price of $46.58. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 3.05 and a beta of -0.12. Scorpio Tankers has a fifty-two week low of $30.63 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.32. The business had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The company’s revenue for the quarter was down 45.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.97 EPS. Equities research analysts anticipate that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.02%. Scorpio Tankers’s payout ratio is 15.76%.

Institutional Inflows and Outflows

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

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.