Jefferies Financial Group Upgrades Scorpio Tankers (NYSE:STNG) to "Strong-Buy"

Key Points

• Jefferies upgraded Scorpio Tankers (NYSE:STNG) to a "Strong-Buy"Moderate Buy with a $85.50 consensus price target (2 Strong Buy, 4 Buy, 4 Hold, 1 Sell).
• Scorpio Tankers reported a strong quarter—EPS $1.62 vs. $1.37 expected and revenue $252.65M (+23.8% YoY) with a 36.7% net margin—and the stock trades around $78.21 with a market cap of $4.05B and a P/E of 11.06.

Scorpio Tankers (NYSE:STNG - Get Free Report) was upgraded by stock analysts at Jefferies Financial Group to a "strong-buy" rating in a research note issued to investors on Friday,Zacks.com reports.

STNG has been the subject of a number of other reports. Zacks Research upgraded Scorpio Tankers from a "strong sell" rating to a "hold" rating in a research report on Friday, February 13th. Bank of America upped their target price on Scorpio Tankers from $70.00 to $72.00 and gave the company an "underperform" rating in a research report on Tuesday, March 31st. Wall Street Zen upgraded Scorpio Tankers from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Scorpio Tankers in a research report on Monday, December 29th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.50.

Scorpio Tankers Stock Performance

NYSE:STNG opened at $78.21 on Friday. The stock has a fifty day moving average price of $74.00 and a 200-day moving average price of $63.63. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 11.06 and a beta of -0.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. Scorpio Tankers has a fifty-two week low of $35.55 and a fifty-two week high of $81.85.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Friday, February 13th. The shipping company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.25. The firm had revenue of $252.65 million during the quarter, compared to the consensus estimate of $238.93 million. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The company's revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. As a group, equities analysts anticipate that Scorpio Tankers will post 8.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its holdings in Scorpio Tankers by 3.1% in the fourth quarter. Kestra Advisory Services LLC now owns 5,286 shares of the shipping company's stock worth $269,000 after acquiring an additional 158 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Scorpio Tankers by 17.4% in the third quarter. Versant Capital Management Inc now owns 1,160 shares of the shipping company's stock worth $65,000 after purchasing an additional 172 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Scorpio Tankers by 15.8% in the third quarter. Public Employees Retirement System of Ohio now owns 1,418 shares of the shipping company's stock worth $79,000 after purchasing an additional 194 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of Scorpio Tankers by 67.9% in the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company's stock worth $28,000 after purchasing an additional 205 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Scorpio Tankers by 1.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,131 shares of the shipping company's stock worth $680,000 after purchasing an additional 223 shares during the last quarter. 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.

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