Scorpio Tankers Inc. (NYSE:STNG) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $74.00.

STNG has been the topic of several recent analyst reports. StockNews.com downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, February 1st. Evercore ISI lifted their price objective on Scorpio Tankers from $89.00 to $91.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Wednesday, February 14th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STNG. Moody Aldrich Partners LLC lifted its stake in shares of Scorpio Tankers by 34.6% during the fourth quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company's stock worth $7,490,000 after purchasing an additional 31,649 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Scorpio Tankers by 4,706.2% in the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company's stock worth $59,025,000 after acquiring an additional 950,600 shares during the period. DNB Asset Management AS grew its position in Scorpio Tankers by 167.0% in the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company's stock valued at $15,494,000 after acquiring an additional 159,393 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Scorpio Tankers during the fourth quarter valued at approximately $3,772,000. Finally, Hosking Partners LLP lifted its position in shares of Scorpio Tankers by 3.1% during the third quarter. Hosking Partners LLP now owns 335,949 shares of the shipping company's stock worth $18,182,000 after purchasing an additional 10,232 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

STNG traded up $0.90 during midday trading on Friday, reaching $72.40. 486,310 shares of the company's stock were exchanged, compared to its average volume of 675,385. Scorpio Tankers has a 1-year low of $40.34 and a 1-year high of $74.04. The stock has a market capitalization of $3.85 billion, a PE ratio of 7.28, a P/E/G ratio of 1.23 and a beta of 0.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.13 and a quick ratio of 1.12. The business's 50-day moving average price is $70.42 and its 200 day moving average price is $64.38.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The company had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. During the same quarter last year, the business posted $4.24 earnings per share. Scorpio Tankers's revenue was down 31.9% compared to the same quarter last year. As a group, equities analysts anticipate that Scorpio Tankers will post 12.54 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from Scorpio Tankers's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.21%. Scorpio Tankers's dividend payout ratio is currently 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.