Scorpio Tankers Inc. (NYSE:STNG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $74.00.

A number of brokerages have recently issued reports on STNG. Evercore ISI boosted their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research report on Wednesday, February 14th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st.

Scorpio Tankers Price Performance

STNG stock opened at $75.41 on Friday. The firm has a market cap of $4.01 billion, a P/E ratio of 7.59, a P/E/G ratio of 1.27 and a beta of 0.18. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $70.78 and its two-hundred day moving average price is $64.75. Scorpio Tankers has a 12 month low of $40.34 and a 12 month high of $75.49.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.13. The company had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The firm’s revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.24 EPS. On average, analysts anticipate that Scorpio Tankers will post 12.25 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s payout ratio is currently 16.10%.

Institutional Trading of Scorpio Tankers

Several hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its stake in shares of Scorpio Tankers by 4.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,742 shares of the shipping company’s stock valued at $1,055,000 after acquiring an additional 640 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Scorpio Tankers by 8.8% during the 1st quarter. Bleakley Financial Group LLC now owns 8,908 shares of the shipping company’s stock valued at $637,000 after purchasing an additional 717 shares in the last quarter. ProShare Advisors LLC increased its stake in Scorpio Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,587 shares of the shipping company’s stock valued at $614,000 after purchasing an additional 676 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Scorpio Tankers by 6.9% during the 1st quarter. Russell Investments Group Ltd. now owns 152,794 shares of the shipping company’s stock valued at $10,932,000 after purchasing an additional 9,913 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Scorpio Tankers by 91.4% during the 1st quarter. SG Americas Securities LLC now owns 6,334 shares of the shipping company’s stock valued at $453,000 after purchasing an additional 3,025 shares in the last quarter. Institutional investors 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.