Brokerages Set Scorpio Tankers Inc. (NYSE:STNG) Target Price at $60.50

Shares of Scorpio Tankers Inc. (NYSE:STNG) have received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $60.50.

Several research analysts have recently weighed in on the company. Evercore ISI decreased their price target on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Fearnley Fonds upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $65.00 price objective on shares of Scorpio Tankers in a research report on Wednesday.

Scorpio Tankers Trading Up 1.3%

Scorpio Tankers stock opened at $45.69 on Monday. The company has a current ratio of 4.20, a quick ratio of 4.12 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $42.14 and its two-hundred day simple moving average is $41.68. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $77.83. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 4.50 and a beta of -0.04.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.03 by $0.38. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. The business had revenue of $222.76 million for the quarter, compared to the consensus estimate of $219.26 million. During the same period in the previous year, the company posted $3.60 earnings per share. The company’s revenue for the quarter was down 39.5% compared to the same quarter last year. As a group, equities analysts predict that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Friday, May 30th. Scorpio Tankers’s payout ratio is presently 15.76%.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Holdings LLC purchased a new stake in shares of Scorpio Tankers in the first quarter worth approximately $26,000. Signaturefd LLC raised its holdings in shares of Scorpio Tankers by 95.6% in the first quarter. Signaturefd LLC now owns 761 shares of the shipping company’s stock worth $29,000 after buying an additional 372 shares during the period. GAMMA Investing LLC raised its holdings in shares of Scorpio Tankers by 206.1% in the second quarter. GAMMA Investing LLC now owns 854 shares of the shipping company’s stock worth $33,000 after buying an additional 575 shares during the period. Covestor Ltd raised its holdings in shares of Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock worth $41,000 after buying an additional 770 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Scorpio Tankers by 25.0% in the second quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock worth $48,000 after buying an additional 245 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

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.