Scorpio Tankers (NYSE:STNG) Trading Down 4.3% - Here's Why

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) were down 4.3% during mid-day trading on Monday . The company traded as low as $42.19 and last traded at $41.53. Approximately 156,110 shares were traded during trading, a decline of 83% from the average daily volume of 893,704 shares. The stock had previously closed at $43.40.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on STNG shares. Fearnley Fonds upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Jefferies Financial Group reiterated a "buy" rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Finally, Evercore ISI reduced their price target on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Scorpio Tankers Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 3.20 and a beta of -0.04. The business's fifty day simple moving average is $38.67 and its 200 day simple moving average is $43.06.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.32. The business had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The company's revenue for the quarter was down 45.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.97 EPS. Research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.84%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's dividend payout ratio (DPR) is 15.76%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Scorpio Tankers by 10.7% in the 1st quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company's stock worth $3,163,000 after acquiring an additional 8,170 shares during the period. Strs Ohio acquired a new position in Scorpio Tankers in the 1st quarter valued at approximately $398,000. Intech Investment Management LLC increased its stake in Scorpio Tankers by 9.4% in the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company's stock valued at $1,221,000 after buying an additional 2,802 shares during the period. Empowered Funds LLC increased its stake in shares of Scorpio Tankers by 47.0% during the 1st quarter. Empowered Funds LLC now owns 166,282 shares of the shipping company's stock worth $6,249,000 after purchasing an additional 53,153 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Scorpio Tankers by 786.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 48,990 shares of the shipping company's stock worth $1,841,000 after purchasing an additional 43,462 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.