Scorpio Tankers Inc. (NYSE:STNG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Scorpio Tankers Inc. (NYSE:STNGGet Free Report) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $88.80.

Several equities research analysts have weighed in on STNG shares. Stifel Nicolaus upped their target price on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, July 30th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Finally, Bank of America lowered their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd.

Read Our Latest Report on Scorpio Tankers

Institutional Trading of Scorpio Tankers

A number of institutional investors and hedge funds have recently bought and sold shares of STNG. LSV Asset Management increased its holdings in 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 during the period. Vanguard Group Inc. grew its holdings in Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after acquiring an additional 549,395 shares during the period. Hartree Partners LP grew its holdings in Scorpio Tankers by 634.5% during the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock worth $37,313,000 after acquiring an additional 450,498 shares during the period. Acadian Asset Management LLC grew its holdings in Scorpio Tankers by 1,357.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock worth $23,034,000 after acquiring an additional 264,049 shares during the period. Finally, American Century Companies Inc. grew its holdings in Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after acquiring an additional 199,858 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Up 0.3 %

NYSE STNG opened at $73.14 on Tuesday. The business has a fifty day moving average price of $71.39 and a two-hundred day moving average price of $74.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. Scorpio Tankers has a fifty-two week low of $52.01 and a fifty-two week high of $84.67. The stock has a market capitalization of $3.99 billion, a PE ratio of 6.78, a PEG ratio of 2.00 and a beta of 0.15.

Scorpio Tankers (NYSE:STNGGet Free Report) last released 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 23.83% and a net margin of 47.36%. The firm had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. During the same period in the prior year, the company earned $2.41 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Equities analysts expect that Scorpio Tankers will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. Scorpio Tankers’s payout ratio is 14.84%.

Scorpio Tankers Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Scorpio Tankers (NYSE:STNG)

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