Jefferies Financial Group Reaffirms Buy Rating for Scorpio Tankers (NYSE:STNG)

Scorpio Tankers (NYSE:STNG - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Jefferies Financial Group in a report issued on Thursday, Benzinga reports. They currently have a $90.00 price objective on the shipping company's stock. Jefferies Financial Group's price objective indicates a potential upside of 17.25% from the company's previous close.

STNG has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on Scorpio Tankers from $85.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, February 1st. Evercore ISI lifted their price target on Scorpio Tankers from $89.00 to $91.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. Finally, StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.00.

Scorpio Tankers Price Performance

Scorpio Tankers stock traded up $1.33 during mid-day trading on Thursday, hitting $76.76. 1,329,209 shares of the company were exchanged, compared to its average volume of 1,096,382. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.13 and a quick ratio of 1.12. Scorpio Tankers has a 12-month low of $40.34 and a 12-month high of $77.69. The business's 50 day simple moving average is $70.97 and its two-hundred day simple moving average is $64.83. The company has a market capitalization of $4.08 billion, a P/E ratio of 7.72, a PEG ratio of 1.27 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.13. The firm had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The firm's revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.24 EPS. Analysts forecast that Scorpio Tankers will post 12.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors and hedge funds have recently bought and sold shares of STNG. Blair William & Co. IL bought a new position in Scorpio Tankers during the 1st quarter valued at $395,000. Foundry Partners LLC grew its stake in Scorpio Tankers by 11.6% in the first quarter. Foundry Partners LLC now owns 102,594 shares of the shipping company's stock worth $7,341,000 after purchasing an additional 10,704 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Scorpio Tankers by 4.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,742 shares of the shipping company's stock valued at $1,055,000 after buying an additional 640 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Scorpio Tankers by 8.8% during the first quarter. Bleakley Financial Group LLC now owns 8,908 shares of the shipping company's stock valued at $637,000 after buying an additional 717 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Scorpio Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,587 shares of the shipping company's stock worth $614,000 after buying an additional 676 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

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.