Scorpio Tankers (NYSE:STNG) Price Target Cut to $57.00 by Analysts at Evercore ISI

Scorpio Tankers (NYSE:STNG - Get Free Report) had its price target cut by equities research analysts at Evercore ISI from $60.00 to $57.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the shipping company's stock. Evercore ISI's price target would indicate a potential upside of 42.96% from the company's previous close.

A number of other equities research analysts have also recently issued reports on STNG. Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a report on Thursday, May 1st. Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $60.50.

Scorpio Tankers Stock Down 2.0 %

STNG stock traded down $0.81 during trading hours on Friday, reaching $39.87. 454,823 shares of the stock were exchanged, compared to its average volume of 900,395. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 3.06 and a beta of -0.12. The firm's 50-day moving average is $37.41 and its 200-day moving average is $46.22. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released 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 business's quarterly revenue was down 45.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.97 EPS. On average, equities research analysts expect that Scorpio Tankers will post 5.29 earnings per share for the current year.

Hedge Funds Weigh In On Scorpio Tankers

A number of large investors have recently modified their holdings of the company. Signaturefd LLC grew its position in Scorpio Tankers by 95.6% in the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock worth $29,000 after purchasing an additional 372 shares in the last quarter. GAMMA Investing LLC grew its position in Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after buying an additional 402 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd lifted its position 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 purchasing an additional 770 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings 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 acquiring an additional 266 shares during the last quarter. 54.64% of the stock is currently 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.