Scorpio Tankers Inc. (NYSE:STNG) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Scorpio Tankers received a “Moderate Buy” consensus rating from 11 analysts, with an average 12-month price target of $109.56.
• The company beat quarterly earnings and revenue estimates, reporting EPS of $2.49 and revenue of $266.47 million; revenue rose 10.4% year over year.
• Scorpio Tankers raised its quarterly dividend from $0.45 to $0.75 per share, equivalent to an annualized yield of about 3.6%.

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $109.56.

STNG has been the subject of a number of recent research reports. BTIG Research reiterated a "buy" rating and issued a $110.00 target price on shares of Scorpio Tankers in a report on Wednesday, October 28th. Morgan Stanley upped their price target on Scorpio Tankers from $76.00 to $90.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 13th. Bank of America reaffirmed an "underperform" rating on shares of Scorpio Tankers in a research report on Tuesday, September 8th. Evercore set a $105.00 price objective on Scorpio Tankers in a research note on Monday, November 2nd. Finally, B. Riley Financial reiterated a "buy" rating and issued a $130.00 price objective (up from $120.00) on shares of Scorpio Tankers in a research note on Thursday, October 29th.

Scorpio Tankers Stock Down 0.4%

Scorpio Tankers stock traded down $0.38 during mid-day trading on Friday, reaching $83.06. 562,757 shares of the company's stock were exchanged, compared to its average volume of 1,071,343. The company has a market cap of $4.19 billion, a P/E ratio of 4.40, a P/E/G ratio of 1.70 and a beta of -0.10. Scorpio Tankers has a twelve month low of $48.93 and a twelve month high of $95.60. The company has a quick ratio of 20.59, a current ratio of 20.65 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $84.58 and a 200-day moving average of $78.02.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The shipping company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.06 by $0.43. Scorpio Tankers had a net margin of 77.07% and a return on equity of 17.06%. The business had revenue of $266.47 million during the quarter, compared to the consensus estimate of $243.98 million. During the same quarter in the previous year, the firm posted $1.49 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts expect that Scorpio Tankers will post 15.59 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 3.6%. This is a positive change from Scorpio Tankers's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 13th. Scorpio Tankers's dividend payout ratio is 15.89%.

Insider Transactions at Scorpio Tankers

In related news, insider Auste Adelborg sold 6,834 shares of Scorpio Tankers stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $89.64, for a total value of $612,599.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Robert Bugbee sold 231,799 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $86.19, for a total transaction of $19,978,755.81. Following the transaction, the president owned 665,288 shares of the company's stock, valued at $57,341,172.72. This trade represents a 25.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 654,770 shares of company stock valued at $58,404,395 over the last quarter. Insiders own 7.34% of the company's stock.

Institutional Investors Weigh In On Scorpio Tankers

Institutional investors have recently modified their holdings of the company. Jump Financial LLC purchased a new position in Scorpio Tankers in the third quarter valued at $13,519,000. Marshall Wace LLP acquired a new stake in Scorpio Tankers in the third quarter valued at $13,575,000. Empowered Funds LLC raised its stake in Scorpio Tankers by 41.9% in the third quarter. Empowered Funds LLC now owns 318,505 shares of the shipping company's stock valued at $26,659,000 after buying an additional 94,004 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Scorpio Tankers by 281.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 542 shares of the shipping company's stock worth $45,000 after buying an additional 400 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in Scorpio Tankers by 10.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 16,381 shares of the shipping company's stock worth $1,371,000 after buying an additional 1,515 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Company Profile

Scorpio Tankers Inc. is a marine transportation company focused on moving refined petroleum products around the world. Its product tankers carry cargoes such as gasoline, diesel, jet fuel and naphtha between refineries, storage facilities and end markets. The company serves international shipping routes, connecting major refining and consumption regions. Its fleet includes medium-range and larger product tankers designed to transport petroleum products across regional and long-distance routes. Scorpio Tankers was founded in 2009 and is headquartered in Monaco.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.