Scorpio Tankers (NYSE:STNG) Stock Rating Upgraded by Zacks Research

Scorpio Tankers (NYSE:STNG - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

STNG has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $83.00 price target on shares of Scorpio Tankers in a research note on Friday, February 13th. Moffett Nathanson upgraded shares of Scorpio Tankers to a "neutral" rating in a research report on Monday, January 12th. Dnb Carnegie cut shares of Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 12th. Jefferies Financial Group started coverage on shares of Scorpio Tankers in a research report on Friday, April 24th. They set a "buy" rating and a $90.00 price objective for the company. Finally, B. Riley Financial reiterated a "buy" rating on shares of Scorpio Tankers in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.17.

Scorpio Tankers Trading Down 0.4%

Shares of STNG stock opened at $84.36 on Thursday. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 8.29 and a beta of -0.24. The stock has a 50-day moving average of $75.54 and a 200-day moving average of $65.12. The company has a current ratio of 13.98, a quick ratio of 9.23 and a debt-to-equity ratio of 0.16. Scorpio Tankers has a 1-year low of $37.96 and a 1-year high of $87.39.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The shipping company reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.23. The company had revenue of $312.86 million during the quarter, compared to analysts' expectations of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The business's quarterly revenue was up 46.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, equities research analysts forecast that Scorpio Tankers will post 11.44 earnings per share for the current year.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Scorpio Tankers by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company's stock worth $996,000 after purchasing an additional 1,144 shares during the period. Intech Investment Management LLC grew its holdings in Scorpio Tankers by 9.4% in the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company's stock worth $1,221,000 after purchasing an additional 2,802 shares during the period. Legal & General Group Plc grew its holdings in Scorpio Tankers by 11.2% in the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company's stock worth $391,000 after purchasing an additional 1,005 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Scorpio Tankers by 593.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company's stock worth $110,000 after purchasing an additional 2,402 shares during the period. Finally, Marshall Wace LLP grew its holdings in Scorpio Tankers by 3.1% in the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company's stock worth $5,932,000 after purchasing an additional 4,618 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

More Scorpio Tankers News

Here are the key news stories impacting Scorpio Tankers this week:

• Positive Sentiment: Bank of America upgraded Scorpio Tankers to Buy and raised its price target to $100, citing expectations that tanker rates will remain elevated. Read More
• Positive Sentiment: BTIG increased its price target on Scorpio Tankers to $100, reinforcing a more bullish Wall Street outlook. Read More
• Positive Sentiment: Zacks said Scorpio Tankers is showing strong momentum characteristics and could continue higher as earnings estimates have been revised upward. Article Title
• Positive Sentiment: The stock was also added to Zacks’ Rank #1 Strong Buy momentum and income stock lists, which may attract additional investor interest. Article Title
• Neutral Sentiment: Scorpio Tankers announced a reopening of its 1.75% convertible notes due 2031, increasing the offering to $200 million from $150 million, while also planning to repurchase about 649,427 shares. The buyback could help offset dilution, but the new notes add leverage and potential future share issuance. Article Title

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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