Scorpio Tankers (NYSE:STNG) Downgraded to Hold at Stifel Nicolaus

Scorpio Tankers (NYSE:STNG) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Wednesday, FinViz reports. They presently have a $65.00 price target on the shipping company’s stock, down from their prior price target of $90.00. Stifel Nicolaus’ price target indicates a potential upside of 0.37% from the stock’s current price.

A number of other brokerages have also commented on STNG. Evercore ISI raised their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Bank of America cut their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $82.40.

Scorpio Tankers Trading Down 2.7 %

Shares of NYSE STNG opened at $64.76 on Wednesday. Scorpio Tankers has a one year low of $52.68 and a one year high of $84.67. The firm has a market capitalization of $3.44 billion, a PE ratio of 5.09, a PEG ratio of 1.87 and a beta of 0.15. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $70.05 and a two-hundred day moving average price of $74.39.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% 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 last year, the company posted $2.41 EPS. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, analysts predict that Scorpio Tankers will post 12.43 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaMark Advisors LLC raised its position in shares of Scorpio Tankers by 5.9% during the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock worth $358,000 after acquiring an additional 281 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Scorpio Tankers by 320.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,777 shares of the shipping company’s stock valued at $628,000 after acquiring an additional 6,690 shares in the last quarter. Norden Group LLC acquired a new position in Scorpio Tankers in the 1st quarter worth $279,000. BNP Paribas Financial Markets boosted its stake in Scorpio Tankers by 37.0% in the 1st quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock worth $6,356,000 after purchasing an additional 23,975 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in Scorpio Tankers during the 1st quarter worth about $596,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

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.