Scorpio Tankers (NYSE:STNG) Reaches New 12-Month High - Here's What Happened

Key Points

• 52-week high: Scorpio Tankers' stock hit a new 52-week high of $83.74 and was last trading around $83.09, up about 0.8% intraday.
• Analyst sentiment: Analysts show a mixed but overall Moderate Buy consensus with an average target of $85.50 (range includes Evercore $93 and Bank of America $72/underperform).
• Financials and dividend: The company posted an earnings beat with Q EPS of $1.62 (vs. $1.37 estimate) and revenue up 23.8% year-over-year, and it raised its quarterly dividend to $0.45 (annualized $1.80, ~2.2% yield).

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $83.74 and last traded at $83.0940, with a volume of 2695 shares trading hands. The stock had previously closed at $82.99.

Analysts Set New Price Targets

A number of research analysts recently issued reports on STNG shares. Dnb Carnegie downgraded Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 12th. Bank of America boosted their price objective on Scorpio Tankers from $70.00 to $72.00 and gave the company an "underperform" rating in a research note on Tuesday, March 31st. Evercore reiterated an "outperform" rating and set a $93.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $83.00 price objective on shares of Scorpio Tankers in a research note on Friday, February 13th. Finally, Moffett Nathanson upgraded Scorpio Tankers to a "neutral" rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Scorpio Tankers currently has an average rating of "Moderate Buy" and an average target price of $85.50.

Scorpio Tankers Stock Up 0.8%

The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $4.33 billion, a P/E ratio of 11.84 and a beta of -0.24. The company has a 50 day simple moving average of $74.80 and a two-hundred day simple moving average of $64.52.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Friday, February 13th. The shipping company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The business had revenue of $252.65 million during the quarter, compared to the consensus estimate of $238.93 million. During the same period in the prior year, the company posted $0.63 EPS. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities analysts predict that Scorpio Tankers Inc. will post 8.79 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, March 6th. This is a positive change from Scorpio Tankers's previous quarterly dividend of $0.42. Scorpio Tankers's dividend payout ratio is currently 25.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC boosted its stake in Scorpio Tankers by 3.1% in the 4th quarter. Kestra Advisory Services LLC now owns 5,286 shares of the shipping company's stock worth $269,000 after purchasing an additional 158 shares during the period. Versant Capital Management Inc boosted its position in shares of Scorpio Tankers by 17.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,160 shares of the shipping company's stock valued at $65,000 after acquiring an additional 172 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Scorpio Tankers by 15.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,418 shares of the shipping company's stock valued at $79,000 after acquiring an additional 194 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company's stock valued at $28,000 after acquiring an additional 205 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Scorpio Tankers by 1.9% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,131 shares of the shipping company's stock valued at $680,000 after acquiring an additional 223 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc NYSE: STNG is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.

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