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

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $60.50.

Several equities research analysts have recently weighed in on STNG shares. Evercore ISI reduced their price objective 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. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st.

Hedge Funds Weigh In On Scorpio Tankers

Several institutional investors have recently bought and sold shares of STNG. Pinnacle Holdings LLC bought a new position in Scorpio Tankers during the first quarter valued at about $26,000. Signaturefd LLC raised its holdings in Scorpio Tankers by 95.6% during the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after buying an additional 372 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after buying an additional 263 shares in the last quarter. Covestor Ltd raised its holdings in Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after buying an additional 770 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after buying an additional 266 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Up 0.5%

Shares of Scorpio Tankers stock opened at $39.70 on Friday. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The business's 50 day simple moving average is $38.00 and its 200-day simple moving average is $43.48. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 3.04 and a beta of -0.04. Scorpio Tankers has a twelve month low of $30.63 and a twelve month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. The firm had revenue of $204.20 million for the quarter, compared to analysts' expectations of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The firm's revenue was down 45.3% compared to the same quarter last year. During the same period last year, the firm earned $3.97 EPS. Equities research analysts forecast that Scorpio Tankers will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

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 dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.03%. Scorpio Tankers's dividend 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.

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