Brokerages Set Scorpio Tankers Inc. (NYSE:STNG) PT at $60.50

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

STNG has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Evercore ISI lowered their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock 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 Thursday, May 1st. Finally, Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th.

Institutional Trading of Scorpio Tankers

Large investors have recently made changes to their positions in the stock. Lindbrook Capital LLC boosted its stake in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after acquiring an additional 263 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Scorpio Tankers during the 1st quarter worth about $26,000. Signaturefd LLC lifted its position in shares of Scorpio Tankers by 95.6% during the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock worth $29,000 after purchasing an additional 372 shares during the last quarter. Covestor Ltd lifted its position in shares of Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after purchasing an additional 770 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Trading Up 3.9%

Shares of Scorpio Tankers stock traded up $1.54 on Friday, reaching $41.24. 958,387 shares of the company were exchanged, compared to its average volume of 893,617. The stock has a fifty day moving average price of $38.34 and a 200-day moving average price of $43.28. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 3.16 and a beta of -0.04. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers has a fifty-two week low of $30.63 and a fifty-two week high of $84.67.

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

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.88%. Scorpio Tankers's dividend payout ratio (DPR) is presently 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.