Scorpio Tankers (NYSE:STNG) Cut to Hold at StockNews.com

StockNews.com lowered shares of Scorpio Tankers (NYSE:STNG) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Other research analysts have also issued reports about the company. Stifel Nicolaus upped their price target on Scorpio Tankers from $84.00 to $86.00 and gave the stock a buy rating in a report on Wednesday, July 24th. Evercore ISI upped their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an outperform rating in a report on Tuesday, July 23rd. Jefferies Financial Group reiterated a buy rating and set a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday. Finally, Bank of America cut their price target on Scorpio Tankers from $85.00 to $82.00 and set a neutral rating for the company in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $84.17.

Scorpio Tankers Stock Down 3.1 %

STNG opened at $74.16 on Wednesday. The business has a 50 day moving average price of $79.06 and a 200 day moving average price of $73.59. Scorpio Tankers has a twelve month low of $47.88 and a twelve month high of $84.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.58 and a current ratio of 1.60. The firm has a market cap of $4.05 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 1.34 and a beta of 0.17.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a return on equity of 24.62% and a net margin of 47.36%. The firm had revenue of $380.70 million during the quarter, compared to analyst estimates of $368.62 million. During the same period in the previous year, the company earned $2.41 EPS. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. Research analysts forecast that Scorpio Tankers will post 13.11 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. Scorpio Tankers’s payout ratio is 14.84%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fifth Third Bancorp raised its stake in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 319 shares in the last quarter. Global Retirement Partners LLC grew its position in Scorpio Tankers by 8,800.0% in the first quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 528 shares during the period. Fidelis Capital Partners LLC bought a new stake in Scorpio Tankers in the first quarter valued at $58,000. Blue Trust Inc. grew its position in Scorpio Tankers by 7,942.9% in the second quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock valued at $92,000 after acquiring an additional 1,112 shares during the period. Finally, U S Global Investors Inc. grew its position in Scorpio Tankers by 14.5% in the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after acquiring an additional 220 shares during the period. 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.