Scorpio Tankers' (STNG) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed its "hold (c)" rating for Scorpio Tankers (STNG), amidst several other analysts upgrading their ratings, with Jefferies Financial Group and Bank of America issuing "buy" ratings recently.
• Scorpio Tankers reported earnings of $1.41 per share for the last quarter, exceeding analysts' expectations, despite a year-over-year revenue decline of 39.5%.
• Institutional investors currently own 54.64% of Scorpio Tankers, with notable increases in stakes from various hedge funds and investment firms over recent quarters.

Scorpio Tankers (NYSE:STNG - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the company. 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 raised 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 investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $60.50.

Scorpio Tankers Trading Down 0.4%

Shares of STNG stock traded down $0.24 on Wednesday, hitting $54.09. The company had a trading volume of 882,251 shares, compared to its average volume of 960,958. The stock's 50-day moving average is $52.45 and its two-hundred day moving average is $44.28. Scorpio Tankers has a twelve month low of $30.63 and a twelve month high of $72.28. The firm has a market cap of $2.76 billion, a P/E ratio of 7.37 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.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.38. The business had revenue of $222.76 million during the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The company's revenue for the quarter was down 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.60 EPS. On average, equities research analysts anticipate that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

Hedge funds have recently bought and sold shares of the business. Pinnacle Holdings LLC bought a new stake in Scorpio Tankers during the first quarter worth $26,000. Spire Wealth Management raised its stake in shares of Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company's stock valued at $30,000 after buying an additional 330 shares during the period. Signaturefd LLC raised its stake in shares of Scorpio Tankers by 95.6% in the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after buying an additional 372 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Scorpio Tankers by 143.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company's stock valued at $31,000 after buying an additional 460 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Scorpio Tankers by 206.1% in the second quarter. GAMMA Investing LLC now owns 854 shares of the shipping company's stock valued at $33,000 after buying an additional 575 shares during the period. 54.64% of the stock is currently owned by institutional investors.

About Scorpio Tankers

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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