Scorpio Tankers (NYSE:STNG) Earns Buy Rating from Jefferies Financial Group

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating reiterated by Jefferies Financial Group in a research report issued on Thursday,Benzinga reports. They presently have a $75.00 price target on the shipping company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 56.51% from the company’s previous close.

A number of other brokerages have also issued reports on STNG. Evercore ISI dropped their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Bank of America dropped their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $72.75.

Scorpio Tankers Trading Down 0.5 %

Shares of STNG stock opened at $47.92 on Thursday. The company has a market capitalization of $2.42 billion, a P/E ratio of 3.44 and a beta of 0.08. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $49.52 and its two-hundred day moving average is $60.03. Scorpio Tankers has a twelve month low of $45.43 and a twelve month high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Equities analysts forecast that Scorpio Tankers will post 9.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Aviva PLC grew its holdings in shares of Scorpio Tankers by 30.3% in the 4th quarter. Aviva PLC now owns 12,040 shares of the shipping company’s stock worth $598,000 after acquiring an additional 2,800 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Scorpio Tankers during the fourth quarter worth $275,000. Franklin Resources Inc. grew its holdings in Scorpio Tankers by 28.1% in the fourth quarter. Franklin Resources Inc. now owns 73,409 shares of the shipping company’s stock valued at $3,648,000 after purchasing an additional 16,116 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at $559,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at $214,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.