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

Key Points

• Scorpio Tankers Inc. has received an average consensus rating of "Buy" from seven brokerages, with a 12-month price target estimate of $60.50.
• Recent research reports include ratings upgrades from Zacks Research and Bank of America, with price objectives raised to $66.00 and $70.00 respectively.
• The company recently declared a $0.40 quarterly dividend, representing an annualized yield of 3.0% and a payout ratio of 21.80%.

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) have received a consensus rating of "Buy" from the seven brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $60.50.

STNG has been the subject of several recent research reports. Zacks Research raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Friday, September 12th. Bank of America boosted their price objective on Scorpio Tankers from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Jefferies Financial Group boosted 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Scorpio Tankers in a report on Wednesday.

Scorpio Tankers Stock Down 2.5%

Shares of NYSE:STNG opened at $54.16 on Friday. Scorpio Tankers has a 52 week low of $30.63 and a 52 week high of $71.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. The company's fifty day moving average is $52.80 and its 200-day moving average is $44.49. The company has a market capitalization of $2.76 billion, a PE ratio of 7.38 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.38. The business 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%.The firm's revenue for the quarter was down 39.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.60 earnings per share. Equities research analysts predict 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 paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.0%. Scorpio Tankers's dividend payout ratio is 21.80%.

Institutional Trading of Scorpio Tankers

Institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Holdings LLC bought a new stake in shares of Scorpio Tankers in the 1st quarter valued at about $26,000. Signaturefd LLC increased its stake in shares of Scorpio Tankers by 95.6% in the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after acquiring an additional 372 shares during the last quarter. Spire Wealth Management increased its stake in shares of Scorpio Tankers by 77.1% in the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company's stock valued at $30,000 after acquiring an additional 330 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Scorpio Tankers by 143.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company's stock valued at $31,000 after acquiring an additional 460 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Scorpio Tankers by 206.1% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the shipping company's stock valued at $33,000 after acquiring an additional 575 shares during the last quarter. 54.64% of the stock is owned by institutional investors.

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.

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