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

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) have received an average recommendation of "Moderate Buy" from the five research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $60.50.

Several equities research analysts have weighed in on the company. Stifel Nicolaus cut their price target on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Evercore ISI dropped their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group restated a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Finally, Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th.

Institutional Investors Weigh In On Scorpio Tankers

Several institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after purchasing an additional 1,899,981 shares in the last quarter. Cooper Creek Partners Management LLC lifted its stake in Scorpio Tankers by 380.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock worth $109,098,000 after purchasing an additional 1,738,190 shares in the last quarter. Norges Bank purchased a new position in Scorpio Tankers in the 4th quarter worth approximately $30,374,000. Pacer Advisors Inc. purchased a new position in Scorpio Tankers in the 1st quarter worth approximately $19,471,000. Finally, Vanguard Group Inc. lifted its stake in Scorpio Tankers by 22.3% in the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock worth $124,786,000 after purchasing an additional 458,120 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

STNG stock traded down $0.48 during midday trading on Wednesday, reaching $41.59. The stock had a trading volume of 386,811 shares, compared to its average volume of 897,447. The stock has a market cap of $2.12 billion, a PE ratio of 3.19 and a beta of -0.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The firm has a fifty day simple moving average of $37.84 and a two-hundred day simple moving average of $44.88. Scorpio Tankers has a 52-week low of $30.63 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.32. The company had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The firm's quarterly revenue was down 45.3% on a year-over-year basis. During the same quarter last year, the business posted $3.97 EPS. As a group, equities research analysts anticipate that Scorpio Tankers will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.85%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's payout ratio is 15.76%.

About Scorpio Tankers

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.