Scorpio Tankers Inc. (NYSE:STNG) Receives $59.00 Average Target Price from Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.00.

A number of brokerages recently issued reports on STNG. Bank of America raised shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $60.00 in a research report on Monday, September 8th. Jefferies Financial Group boosted their target price on shares of Scorpio Tankers from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Finally, Zacks Research upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 12th.

Institutional Investors Weigh In On Scorpio Tankers

Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in Scorpio Tankers by 10.7% during the first quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company’s stock worth $3,163,000 after buying an additional 8,170 shares in the last quarter. Empowered Funds LLC boosted its stake in Scorpio Tankers by 47.0% during the first quarter. Empowered Funds LLC now owns 166,282 shares of the shipping company’s stock worth $6,249,000 after buying an additional 53,153 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Scorpio Tankers by 24.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company’s stock worth $576,000 after buying an additional 2,971 shares in the last quarter. AQR Capital Management LLC boosted its stake in Scorpio Tankers by 55.1% during the first quarter. AQR Capital Management LLC now owns 334,858 shares of the shipping company’s stock worth $12,584,000 after buying an additional 119,000 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Scorpio Tankers by 17.8% during the first quarter. Invesco Ltd. now owns 137,600 shares of the shipping company’s stock worth $5,171,000 after buying an additional 20,764 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 1.0%

Shares of STNG stock opened at $59.65 on Tuesday. Scorpio Tankers has a 1 year low of $30.63 and a 1 year high of $74.67. The firm’s fifty day simple moving average is $48.93 and its 200 day simple moving average is $42.62. The firm has a market capitalization of $3.04 billion, a P/E ratio of 8.13 and a beta of 0.04. The company has a current ratio of 4.95, a quick ratio of 4.83 and a debt-to-equity ratio of 0.28.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.38. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The business had revenue of $222.76 million for the quarter, compared to analyst estimates of $219.26 million. During the same quarter in the previous year, the firm posted $3.60 earnings per share. Scorpio Tankers’s revenue was down 39.5% compared to the same quarter last year. As a group, sell-side analysts predict that Scorpio Tankers will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.7%. Scorpio Tankers’s payout ratio is currently 21.80%.

Scorpio Tankers Company Profile

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.