Scorpio Tankers’ (STNG) “Buy” Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a research report released on Tuesday morning, Benzinga reports. They currently have a $90.00 price objective on the shipping company’s stock.

Other analysts have also recently issued reports about the company. Bank of America dropped their price target 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. Evercore ISI boosted their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $78.40.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $58.39 on Tuesday. The stock’s 50 day simple moving average is $68.35 and its two-hundred day simple moving average is $73.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.63 and a current ratio of 2.21. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 4.19 and a beta of 0.18. Scorpio Tankers has a fifty-two week low of $52.68 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The business had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. During the same period in the previous year, the firm posted $1.91 EPS. The business’s revenue was down 8.0% on a year-over-year basis. As a group, analysts expect that Scorpio Tankers will post 11.13 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp raised its stake in Scorpio Tankers by 1.4% during the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock valued at $889,000 after buying an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after buying an additional 177 shares during the last quarter. Quarry LP raised its stake in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Scorpio Tankers by 970.0% during the 2nd 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. Finally, Fifth Third Bancorp raised its stake in Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares during the last quarter. 54.64% of the stock is currently 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.