Scorpio Tankers Inc. (NYSE:STNG) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Scorpio Tankers Inc. has received an average recommendation of "Moderate Buy", with analysts predicting a 12-month price objective of $60.50.
• The company reported quarterly earnings of $1.03 per share, surpassing estimates by $0.32, although revenue dropped by 45.3% year-over-year.
• Scorpio Tankers declared a quarterly dividend of $0.40, representing an annual yield of 3.63% with a payout ratio of 15.76%.

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) has been given an average rating of "Moderate Buy" by the five research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $60.50.

A number of equities analysts have commented on the company. Evercore ISI decreased their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group restated a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a research note on Wednesday. Finally, Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Scorpio Tankers by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock valued at $174,512,000 after buying an additional 10,854 shares in the last quarter. Vanguard Group Inc. grew its position in Scorpio Tankers by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company's stock worth $100,658,000 after purchasing an additional 167,218 shares in the last quarter. FMR LLC grew its position in Scorpio Tankers by 266.2% during 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 grew its position in Scorpio Tankers by 380.0% during 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. Finally, American Century Companies Inc. grew its position in Scorpio Tankers by 4.3% during the 1st quarter. American Century Companies Inc. now owns 1,625,131 shares of the shipping company's stock worth $61,072,000 after purchasing an additional 66,729 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Down 1.8%

NYSE:STNG traded down $0.83 during mid-day trading on Monday, reaching $44.87. The stock had a trading volume of 129,404 shares, compared to its average volume of 1,046,249. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 4.42 and a beta of -0.04. Scorpio Tankers has a 1-year low of $30.63 and a 1-year high of $77.83. The stock's 50 day simple moving average is $42.14 and its two-hundred day simple moving average is $41.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.20 and a quick ratio of 4.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.38. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. The business had revenue of $222.76 million during the quarter, compared to the consensus estimate of $219.26 million. During the same period last year, the firm earned $3.60 earnings per share. The company's revenue for the quarter was down 39.5% compared to the same quarter last year. Equities analysts anticipate that Scorpio Tankers will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 3.57%. Scorpio Tankers's payout ratio is 15.76%.

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.