Scorpio Tankers' (STNG) "Buy" Rating Reiterated at Jefferies Financial Group

Key Points

• Jefferies Financial Group has reissued a "buy" rating for Scorpio Tankers, with a target price of $65.00, indicating a potential upside of 39.20% from the current stock price of $46.70.
• Scorpio Tankers reported earnings per share of $1.41 for the last quarter, exceeding analysts' expectations, but annual revenue showed a significant decline of 39.5% year-over-year.
• Institutional investors have shown increased interest, with notable stakes raised by firms like Vanguard Group and FMR LLC, highlighting confidence in the company's future performance.

Scorpio Tankers (NYSE:STNG - Get Free Report)'s stock had its "buy" rating reaffirmed by Jefferies Financial Group in a research note issued on Wednesday,Benzinga reports. They presently have a $65.00 target price on the shipping company's stock. Jefferies Financial Group's target price would indicate a potential upside of 38.15% from the company's previous close.

STNG has been the subject of several other research reports. Evercore ISI dropped their target price on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Trading Up 4.1%

STNG traded up $1.84 on Wednesday, hitting $47.05. The company had a trading volume of 2,243,098 shares, compared to its average volume of 1,182,073. The company has a market cap of $2.40 billion, a PE ratio of 6.41 and a beta of -0.03. Scorpio Tankers has a 12-month low of $30.63 and a 12-month high of $75.69. The company has a quick ratio of 4.12, a current ratio of 4.95 and a debt-to-equity ratio of 0.28. The business's fifty day simple moving average is $42.39 and its 200 day simple moving average is $41.43.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, beating 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 business had revenue of $222.76 million during the quarter, compared to analyst estimates of $219.26 million. During the same quarter in the previous year, the business earned $3.60 earnings per share. The company's revenue for the quarter was down 39.5% compared to the same quarter last year. Equities research analysts expect that Scorpio Tankers will post 5.29 EPS for the current year.

Institutional Trading of Scorpio Tankers

Several institutional investors and hedge funds have recently modified their holdings of STNG. Public Employees Retirement System of Ohio raised its stake in Scorpio Tankers by 25.0% in the second quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company's stock worth $48,000 after buying an additional 245 shares in the last quarter. Signaturefd LLC raised its stake in Scorpio Tankers by 95.6% in the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock worth $29,000 after buying an additional 372 shares in the last quarter. Ellevest Inc. raised its stake in Scorpio Tankers by 8.4% in the fourth quarter. Ellevest Inc. now owns 6,278 shares of the shipping company's stock worth $312,000 after buying an additional 485 shares in the last quarter. GAMMA Investing LLC raised its stake in Scorpio Tankers by 206.1% in the second quarter. GAMMA Investing LLC now owns 854 shares of the shipping company's stock worth $33,000 after buying an additional 575 shares in the last quarter. Finally, Pinnacle Holdings LLC bought a new position in Scorpio Tankers in the first quarter worth approximately $26,000. Institutional investors own 54.64% of the company's stock.

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.