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

Key Points

• Scorpio Tankers Inc. has received an average analyst rating of "Buy", with one hold, three buy, and two strong buy recommendations from six research firms.
• Jefferies Financial Group raised its price target for the stock from $65.00 to $70.00, while Bank of America increased it from $49.00 to $60.00.
• The company recently announced a $0.40 quarterly dividend, marking an annualized dividend of $1.60 and a yield of 2.6% with a payout ratio of 21.80%.

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) have received an average recommendation of "Buy" from the six research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $59.00.

Several equities analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on Scorpio Tankers from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Bank of America raised Scorpio Tankers from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $49.00 to $60.00 in a report on Monday, September 8th. Finally, Zacks Research raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Friday.

Scorpio Tankers Stock Up 3.6%

STNG opened at $60.80 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.95 and a quick ratio of 4.83. The business has a 50 day simple moving average of $47.92 and a 200-day simple moving average of $42.23. The stock has a market capitalization of $3.10 billion, a P/E ratio of 8.28 and a beta of 0.03. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $74.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.38. The firm had revenue of $222.76 million during the quarter, compared to analysts' expectations of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.Scorpio Tankers's revenue was down 39.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 earnings per share. On average, equities analysts anticipate that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers's payout ratio is 21.80%.

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in shares of Scorpio Tankers by 10.7% in the first quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company's stock worth $3,163,000 after acquiring an additional 8,170 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Scorpio Tankers by 24.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company's stock valued at $576,000 after purchasing an additional 2,971 shares during the period. Empowered Funds LLC grew its position in shares of Scorpio Tankers by 47.0% in the first quarter. Empowered Funds LLC now owns 166,282 shares of the shipping company's stock valued at $6,249,000 after purchasing an additional 53,153 shares during the period. AQR Capital Management LLC grew its position in shares of Scorpio Tankers by 55.1% in the first quarter. AQR Capital Management LLC now owns 334,858 shares of the shipping company's stock valued at $12,584,000 after purchasing an additional 119,000 shares during the period. Finally, Invesco Ltd. grew its position in shares of Scorpio Tankers by 17.8% in the first quarter. Invesco Ltd. now owns 137,600 shares of the shipping company's stock valued at $5,171,000 after purchasing an additional 20,764 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

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.

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