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

Scorpio Tankers Inc. (NYSE:STNG) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $74.00.

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Wednesday, February 14th. Evercore ISI upped their target price 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. JPMorgan Chase & Co. upped their target price 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. Finally, StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd.

Hedge Funds Weigh In On Scorpio Tankers

Large investors have recently bought and sold shares of the business. Neo Ivy Capital Management bought a new stake in Scorpio Tankers in the third quarter valued at approximately $27,000. CWM LLC increased its stake in Scorpio Tankers by 1,037.0% in the third quarter. CWM LLC now owns 523 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 477 shares in the last quarter. Global Retirement Partners LLC increased its stake 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 purchasing an additional 528 shares in the last quarter. Headinvest LLC bought a new stake in Scorpio Tankers in the third quarter valued at approximately $51,000. Finally, Sunbelt Securities Inc. bought a new stake in Scorpio Tankers in the third quarter valued at approximately $54,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

NYSE:STNG opened at $75.41 on Friday. The firm has a market cap of $4.01 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18. Scorpio Tankers has a 12 month low of $40.34 and a 12 month high of $75.49. 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 (NYSE:STNG) last released its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. The firm 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 company’s revenue for the quarter was down 31.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.24 earnings per share. On average, equities analysts anticipate that Scorpio Tankers will post 12.25 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

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

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.