Scorpio Tankers (NYSE:STNG) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Scorpio Tankers has been assigned a "hold (c)" rating by Weiss Ratings, reflecting a cautious view on the stock.
• Bank of America and Jefferies Financial Group both issued "buy" ratings for the stock, with target price increases up to $70.00.
• The company reported earnings of $1.41 per share, surpassing estimates, but experienced a 39.5% decline in revenue compared to the previous year.

Scorpio Tankers (NYSE:STNG - Get Free Report)'s stock had its "hold (c)" rating restated by Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the company. Bank of America lifted their target price on Scorpio Tankers from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Zacks Research cut Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a report on Friday, October 17th. Jefferies Financial Group lifted their target price on Scorpio Tankers from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Finally, B. Riley reiterated a "buy" rating and issued a $80.00 price target (up previously from $75.00) on shares of Scorpio Tankers in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $64.40.

Scorpio Tankers Trading Up 0.2%

Shares of STNG stock opened at $60.47 on Friday. Scorpio Tankers has a 12-month low of $30.63 and a 12-month high of $62.90. The company has a current ratio of 4.95, a quick ratio of 4.83 and a debt-to-equity ratio of 0.28. The stock's 50-day moving average price is $54.98 and its 200-day moving average price is $45.92. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 8.24 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results 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. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The firm had revenue of $222.76 million for the quarter, compared to analysts' expectations of $219.26 million. During the same period in the previous year, the firm posted $3.60 earnings per share. The business's revenue was down 39.5% compared to the same quarter last year. Equities research analysts predict that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Empowered Funds LLC boosted its position in shares of Scorpio Tankers by 47.0% during the first quarter. Empowered Funds LLC now owns 166,282 shares of the shipping company's stock valued at $6,249,000 after buying an additional 53,153 shares during the period. Rhumbline Advisers boosted its position in shares of Scorpio Tankers by 10.7% during the first quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company's stock valued at $3,163,000 after buying an additional 8,170 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings 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. AQR Capital Management LLC grew its stake in Scorpio Tankers by 55.1% in the first quarter. AQR Capital Management LLC now owns 334,858 shares of the shipping company's stock worth $12,584,000 after purchasing an additional 119,000 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Scorpio Tankers by 17.8% in the first quarter. Invesco Ltd. now owns 137,600 shares of the shipping company's stock worth $5,171,000 after purchasing an additional 20,764 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.