Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $41.44, but opened at $42.88. Scorpio Tankers shares last traded at $43.59, with a volume of 88,962 shares traded.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on STNG shares. Fearnley Fonds upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Jefferies Financial Group restated a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Evercore ISI dropped their price objective on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Scorpio Tankers has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.
Check Out Our Latest Analysis on STNG
Scorpio Tankers Trading Down 3.3%
The company has a market capitalization of $2.19 billion, a P/E ratio of 4.22 and a beta of -0.04. The business has a fifty day moving average of $39.59 and a 200-day moving average of $42.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.12 and a current ratio of 4.20.
Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.71 by $0.32. The company had revenue of $204.20 million during the quarter, compared to the consensus estimate of $205.89 million. Scorpio Tankers had a net margin of 48.08% and a return on equity of 12.30%. The firm's revenue for the quarter was down 45.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.97 earnings per share. Analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.
Scorpio Tankers Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 3.73%. Scorpio Tankers's dividend payout ratio (DPR) is currently 15.76%.
Institutional Trading of Scorpio Tankers
Several institutional investors have recently made changes to their positions in STNG. Pinnacle Holdings LLC bought a new position in shares of Scorpio Tankers during the 1st quarter worth approximately $26,000. Signaturefd LLC grew its stake in Scorpio Tankers by 95.6% in the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after purchasing an additional 372 shares during the period. Lindbrook Capital LLC increased its position in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares during the last quarter. Covestor Ltd raised its stake in shares of Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after purchasing an additional 770 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after buying an additional 266 shares during the last quarter. Institutional investors own 54.64% of the company's stock.
About Scorpio Tankers
(
Get Free Report)
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.
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