Analysts Set Scorpio Tankers Inc. (NYSE:STNG) Target Price at $79.67

Scorpio Tankers Inc. (NYSE:STNG) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $79.6667.

A number of brokerages have issued reports on STNG. Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a research report on Monday. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $83.00 price target on shares of Scorpio Tankers in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Finally, Evercore reissued an “outperform” rating and set a $83.00 price objective on shares of Scorpio Tankers in a report on Friday, February 13th.

Scorpio Tankers Stock Performance

NYSE:STNG opened at $67.45 on Tuesday. The firm has a 50-day moving average of $65.90 and a two-hundred day moving average of $59.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.33 and a quick ratio of 9.23. The stock has a market cap of $3.49 billion, a P/E ratio of 9.54 and a beta of -0.31. Scorpio Tankers has a 1-year low of $30.63 and a 1-year high of $81.85.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The business had revenue of $252.65 million for the quarter, compared to analyst estimates of $238.93 million. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, research analysts expect that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, March 6th. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.7%. Scorpio Tankers’s payout ratio is currently 25.46%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock valued at $996,000 after purchasing an additional 1,144 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Scorpio Tankers by 9.4% in the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after purchasing an additional 2,802 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of Scorpio Tankers by 34.6% in the 2nd quarter. Savant Capital LLC now owns 14,178 shares of the shipping company’s stock worth $555,000 after purchasing an additional 3,641 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Scorpio Tankers during the 2nd quarter valued at approximately $534,000. Finally, Allworth Financial LP boosted its position in Scorpio Tankers by 1,954.8% during the 2nd quarter. Allworth Financial LP now owns 10,870 shares of the shipping company’s stock valued at $425,000 after purchasing an additional 10,341 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.