Scorpio Tankers Inc. (NYSE:STNG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $74.00.

STNG has been the subject of a number of analyst reports. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Evercore ISI boosted their price objective on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st.

Institutional Investors Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the business. Epoch Investment Partners Inc. increased its holdings in Scorpio Tankers by 0.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock valued at $1,379,000 after buying an additional 150 shares during the period. Daiwa Securities Group Inc. increased its holdings in Scorpio Tankers by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock valued at $811,000 after buying an additional 171 shares during the period. U S Global Investors Inc. increased its holdings in Scorpio Tankers by 14.5% in the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after buying an additional 220 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Scorpio Tankers by 1.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 14,972 shares of the shipping company’s stock valued at $707,000 after buying an additional 230 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in Scorpio Tankers by 35.2% in the 1st quarter. Meeder Asset Management Inc. now owns 964 shares of the shipping company’s stock valued at $54,000 after buying an additional 251 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

NYSE STNG opened at $70.59 on Tuesday. 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 stock has a market capitalization of $3.75 billion, a PE ratio of 7.10 and a beta of 0.21. The company has a 50 day moving average price of $69.41 and a two-hundred day moving average price of $62.72. Scorpio Tankers has a 12-month low of $40.34 and a 12-month high of $74.04.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. The firm had revenue of $336.30 million during the quarter, compared to analysts’ expectations 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 was down 31.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.24 earnings per share. As a group, equities analysts predict that Scorpio Tankers will post 12.3 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s payout ratio is 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.