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

Scorpio Tankers Inc. (NYSE:STNG) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $80.67.

A number of equities research analysts have issued reports on the company. Bank of America upped their target price on Scorpio Tankers from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 18th. StockNews.com raised Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 9th.

Scorpio Tankers Stock Down 2.7 %

Shares of Scorpio Tankers stock opened at $81.29 on Friday. The stock has a market capitalization of $4.44 billion, a P/E ratio of 7.54, a PEG ratio of 1.10 and a beta of 0.20. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $78.31 and a two-hundred day moving average price of $71.13. Scorpio Tankers has a 12-month low of $40.34 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.72 by $0.25. The firm had revenue of $389.76 million during the quarter, compared to analysts’ expectations of $381.46 million. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. Equities analysts expect that Scorpio Tankers will post 12.18 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.97%. Scorpio Tankers’s payout ratio is 14.84%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of STNG. FMR LLC raised its stake in shares of Scorpio Tankers by 94.4% in the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock valued at $126,357,000 after purchasing an additional 1,133,900 shares in the last quarter. LSV Asset Management raised its stake in shares of Scorpio Tankers by 118.1% in the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock valued at $131,594,000 after purchasing an additional 995,978 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock valued at $59,025,000 after purchasing an additional 950,600 shares in the last quarter. Norges Bank acquired a new position in shares of Scorpio Tankers in the fourth quarter valued at $34,009,000. Finally, Vanguard Group Inc. raised its stake in shares of Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after purchasing an additional 549,395 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.