Scorpio Tankers (NYSE:STNG) Hits New 1-Year High - What's Next?

Key Points

• Scorpio Tankers reached a new 52-week high of $87.49, closing near $87.27. The stock has a market capitalization of approximately $4.39 billion and trades at a P/E ratio of 5.44.
• The company reported strong quarterly results, with EPS of $4.68 exceeding estimates of $4.56 and revenue rising 77.5% year over year to $408.73 million. Analysts project full-year EPS of $11.21.
• Analyst sentiment remains mixed, with an average rating of “Hold” and an average price target of $90.14. Scorpio Tankers also pays a quarterly dividend of $0.45, equivalent to a 2.1% yield.

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $87.49 and last traded at $87.2710, with a volume of 127563 shares. The stock had previously closed at $85.73.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on STNG shares. Bank of America reaffirmed an "underperform" rating on shares of Scorpio Tankers in a research report on Tuesday, September 8th. Zacks Research cut shares of Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Scorpio Tankers in a report on Thursday, June 18th. Wall Street Zen downgraded shares of Scorpio Tankers from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, July 14th. Finally, Morgan Stanley set a $86.00 price objective on shares of Scorpio Tankers in a report on Tuesday, August 18th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $90.14.

Scorpio Tankers Price Performance

The firm has a fifty day moving average of $78.85 and a 200 day moving average of $77.39. The company has a current ratio of 6.93, a quick ratio of 6.89 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $4.39 billion, a P/E ratio of 5.44 and a beta of -0.22.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.56 by $0.12. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The business had revenue of $408.73 million for the quarter, compared to analysts' expectations of $398.25 million. During the same quarter in the prior year, the business earned $1.41 EPS. The business's revenue for the quarter was up 77.5% compared to the same quarter last year. On average, equities research analysts anticipate that Scorpio Tankers Inc. will post 11.21 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were issued a $0.45 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.80 annualized dividend and a yield of 2.1%. Scorpio Tankers's dividend payout ratio (DPR) is currently 11.24%.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds have recently added to or reduced their stakes in STNG. Parallel Advisors LLC raised its stake in Scorpio Tankers by 13.8% in the 1st quarter. Parallel Advisors LLC now owns 2,124 shares of the shipping company's stock worth $159,000 after acquiring an additional 257 shares during the last quarter. Allworth Financial LP grew its stake in Scorpio Tankers by 2.4% during the 4th quarter. Allworth Financial LP now owns 11,257 shares of the shipping company's stock valued at $572,000 after purchasing an additional 261 shares during the last quarter. Root Financial Partners LLC grew its stake in Scorpio Tankers by 193.9% during the 1st quarter. Root Financial Partners LLC now owns 526 shares of the shipping company's stock valued at $39,000 after purchasing an additional 347 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Scorpio Tankers by 12.2% in the first quarter. EverSource Wealth Advisors LLC now owns 3,218 shares of the shipping company's stock valued at $240,000 after purchasing an additional 350 shares during the period. Finally, Assetmark Inc. acquired a new position in shares of Scorpio Tankers in the first quarter valued at about $28,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers' fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.

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