Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) were up 6.1% on Thursday . The stock traded as high as $58.25 and last traded at $57.88. Approximately 265,276 shares were traded during trading, a decline of 74% from the average daily volume of 1,038,312 shares. The stock had previously closed at $54.57.
Analysts Set New Price Targets
Several research analysts have recently weighed in on STNG shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Scorpio Tankers in a research note on Wednesday, October 8th. B. Riley restated a "buy" rating and issued a $80.00 target price (up previously from $75.00) on shares of Scorpio Tankers in a research note on Thursday. Jefferies Financial Group raised their target price on Scorpio Tankers from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Zacks Research upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 12th. Finally, Bank of America raised their target price on Scorpio Tankers from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $64.40.
Read Our Latest Analysis on STNG
Scorpio Tankers Trading Up 2.7%
The stock has a market cap of $2.86 billion, a P/E ratio of 7.63 and a beta of 0.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. The stock has a 50-day moving average price of $53.16 and a 200-day moving average price of $44.82.
Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.38. The firm had revenue of $222.76 million during the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The company's revenue for the quarter was down 39.5% on a year-over-year basis. During the same quarter last year, the company posted $3.60 EPS. On average, equities research analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.
Scorpio Tankers Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Wednesday, August 13th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers's dividend payout ratio (DPR) is currently 21.80%.
Hedge Funds Weigh In On Scorpio Tankers
A number of large investors have recently modified their holdings of the company. Empowered Funds LLC increased its stake in Scorpio Tankers by 47.0% in 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 period. Rhumbline Advisers increased its stake in 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 purchasing an additional 8,170 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Scorpio Tankers by 24.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company's stock worth $576,000 after purchasing an additional 2,971 shares during the period. AQR Capital Management LLC increased its stake in Scorpio Tankers by 55.1% in the 1st quarter. AQR Capital Management LLC now owns 334,858 shares of the shipping company's stock worth $12,584,000 after purchasing an additional 119,000 shares during the period. Finally, Invesco Ltd. increased its stake in Scorpio Tankers by 17.8% in the 1st quarter. Invesco Ltd. now owns 137,600 shares of the shipping company's stock worth $5,171,000 after purchasing an additional 20,764 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.
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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