Scorpio Tankers Inc. (NYSE:STNG) Receives $80.50 Average PT from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $80.50.

Several equities analysts have recently issued reports on the company. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a research report on Monday, January 12th. Finally, Zacks Research raised Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th.

Institutional Investors Weigh In On Scorpio Tankers

A number of large investors have recently made changes to their positions in STNG. SBI Securities Co. Ltd. grew its stake in shares of Scorpio Tankers by 110.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 246 shares during the period. Global Retirement Partners LLC grew its stake in shares of Scorpio Tankers by 1,645.2% during the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 510 shares during the period. Clearstead Advisors LLC grew its stake in shares of Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 205 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Scorpio Tankers during the 4th quarter valued at approximately $29,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Scorpio Tankers by 154.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock valued at $33,000 after acquiring an additional 392 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Up 0.0%

Shares of Scorpio Tankers stock opened at $76.47 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. Scorpio Tankers has a 52-week low of $31.62 and a 52-week high of $81.85. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 10.82 and a beta of -0.32. The company’s 50 day moving average price is $71.24 and its 200-day moving average price is $61.93.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Friday, February 13th. The shipping company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.25. The business had revenue of $252.65 million for the quarter, compared to analysts’ expectations of $238.93 million. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. Equities research analysts forecast that Scorpio Tankers will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s dividend payout ratio is presently 25.46%.

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.