Scorpio Tankers (NYSE:STNG) Receives Buy Rating from Jefferies Financial Group

Key Points

• Jefferies reiterated a “buy” rating on Scorpio Tankers and set a $100 price target, implying 28.83% upside from the stock’s $77.62 opening price.
• Analyst opinion is mixed overall: Scorpio Tankers has a consensus “hold” rating and an average price target of $89.57, despite several buy or outperform recommendations.
• The company exceeded quarterly expectations, reporting $4.68 in earnings per share versus $4.56 expected and $408.73 million in revenue, up 77.5% year over year.

Scorpio Tankers (NYSE:STNG - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Jefferies Financial Group in a report issued on Tuesday,Benzinga reports. They presently have a $100.00 target price on the shipping company's stock. Jefferies Financial Group's target price suggests a potential upside of 28.83% from the stock's current price.

A number of other equities analysts have also recently weighed in on the stock. Evercore reaffirmed an "outperform" rating and set a $94.00 price target on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Zacks Research cut Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 30th. BTIG Research boosted their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. Finally, Wall Street Zen cut Scorpio Tankers from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Scorpio Tankers has a consensus rating of "Hold" and a consensus target price of $89.57.

Scorpio Tankers Trading Down 0.3%

Shares of Scorpio Tankers stock opened at $77.62 on Tuesday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 4.85 and a beta of -0.22. Scorpio Tankers has a 52-week low of $43.78 and a 52-week high of $87.39. The company's 50-day simple moving average is $76.83 and its 200-day simple moving average is $74.30. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, beating analysts' consensus estimates of $4.56 by $0.12. The company had revenue of $408.73 million for the quarter, compared to analyst estimates of $398.25 million. Scorpio Tankers had a return on equity of 16.95% and a net margin of 67.16%.The firm's revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. As a group, equities research analysts anticipate that Scorpio Tankers will post 11.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC grew its stake in Scorpio Tankers by 3.1% during the 4th quarter. Kestra Advisory Services LLC now owns 5,286 shares of the shipping company's stock worth $269,000 after buying an additional 158 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Scorpio Tankers by 15.8% in the third quarter. Public Employees Retirement System of Ohio now owns 1,418 shares of the shipping company's stock valued at $79,000 after buying an additional 194 shares during the last quarter. Parallel Advisors LLC lifted its stake in Scorpio Tankers by 13.8% in the first quarter. Parallel Advisors LLC now owns 2,124 shares of the shipping company's stock valued at $159,000 after buying an additional 257 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Scorpio Tankers by 2.4% during the fourth quarter. Allworth Financial LP now owns 11,257 shares of the shipping company's stock valued at $572,000 after acquiring an additional 261 shares during the period. Finally, Root Financial Partners LLC boosted its holdings in shares of Scorpio Tankers by 193.9% during the first quarter. Root Financial Partners LLC now owns 526 shares of the shipping company's stock valued at $39,000 after acquiring an additional 347 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Company Profile

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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