Scorpio Tankers Inc. (NYSE:STNG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $75.40.

Several analysts recently commented on the company. Evercore ISI reduced their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Jefferies Financial Group dropped their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Finally, 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 research note on Tuesday, October 22nd.

Scorpio Tankers Price Performance

STNG opened at $56.68 on Thursday. The company’s 50-day simple moving average is $51.26 and its two-hundred day simple moving average is $64.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The stock has a market capitalization of $2.86 billion, a P/E ratio of 4.06 and a beta of 0.12. Scorpio Tankers has a 52-week low of $45.94 and a 52-week high of $84.67.

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

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 2.82%. Scorpio Tankers’s payout ratio is 11.47%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Mountaineer Partners Management LLC lifted its position in shares of Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after acquiring an additional 8,252,691 shares in the last quarter. International Assets Investment Management LLC raised its stake in Scorpio Tankers by 8,249.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after purchasing an additional 1,857,668 shares during the period. Renaissance Technologies LLC lifted its holdings in Scorpio Tankers by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after purchasing an additional 62,600 shares in the last quarter. American Century Companies Inc. boosted its stake in Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after purchasing an additional 199,858 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Scorpio Tankers by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock valued at $54,768,000 after buying an additional 38,599 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

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.