Scorpio Tankers Inc. (NYSE:STNG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $76.40.

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI reduced their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Bank of America dropped their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th.

Institutional Trading of Scorpio Tankers

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its stake in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after buying an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers during the 3rd quarter valued at about $28,000. Fifth Third Bancorp grew its stake in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after acquiring an additional 319 shares in the last quarter. Quarry LP grew its stake in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after acquiring an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in shares of Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after acquiring an additional 177 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $55.71 on Wednesday. The company’s fifty day moving average price is $64.69 and its 200-day moving average price is $72.48. The stock has a market cap of $2.82 billion, a PE ratio of 3.99 and a beta of 0.18. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers has a 12 month low of $52.68 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same quarter in the previous year, the firm posted $1.91 earnings per share. Scorpio Tankers’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities analysts expect that Scorpio Tankers will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

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.