Scorpio Tankers Inc. (NYSE:STNG) Receives Average Recommendation of “Hold” from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has received an average recommendation of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $89.5714.

A number of equities analysts recently issued reports on STNG shares. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price objective on shares of Scorpio Tankers in a report on Tuesday. Zacks Research downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. Morgan Stanley set a $82.00 price target on Scorpio Tankers and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Evercore reissued an “outperform” rating and set a $94.00 price target on shares of Scorpio Tankers in a report on Wednesday, July 22nd.

Scorpio Tankers Trading Up 3.1%

Scorpio Tankers stock opened at $76.35 on Friday. Scorpio Tankers has a 52-week low of $43.78 and a 52-week high of $87.39. The company has a quick ratio of 13.87, a current ratio of 6.93 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 4.77 and a beta of -0.22. The firm has a 50-day moving average price of $76.72 and a two-hundred day moving average price of $74.65.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, July 30th. The shipping company reported $4.68 EPS for the quarter, beating the consensus estimate of $4.56 by $0.12. The company had revenue of $408.73 million for the quarter, compared to analyst estimates of $398.25 million. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. Scorpio Tankers’s revenue was up 77.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. Sell-side analysts expect that Scorpio Tankers will post 11.1 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, August 17th. Scorpio Tankers’s dividend payout ratio is currently 11.24%.

Hedge Funds Weigh In On Scorpio Tankers

Several large investors have recently bought and sold shares of STNG. Global Retirement Partners LLC lifted its stake in shares of Scorpio Tankers by 1,645.2% in the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after acquiring an additional 510 shares during the period. Assetmark Inc. acquired a new position in shares of Scorpio Tankers during the first quarter valued at approximately $28,000. Zions Bancorporation National Association UT bought a new stake in Scorpio Tankers during the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC raised its holdings in Scorpio Tankers by 154.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock worth $33,000 after purchasing an additional 392 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Scorpio Tankers in the third quarter worth approximately $36,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.