Scorpio Tankers Inc. (NYSE:STNG) Receives $88.80 Consensus PT from Brokerages

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $88.80.

Several analysts have recently commented on STNG shares. Jefferies Financial Group restated a "buy" rating and issued a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Bank of America cut their price target on Scorpio Tankers from $85.00 to $82.00 and set a "neutral" rating for the company in a research note on Tuesday, July 23rd. Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a research note on Friday. Evercore ISI lifted their price target on Scorpio Tankers from $99.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus lifted their price target on Scorpio Tankers from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds and other institutional investors have recently modified their holdings of the business. Bluefin Capital Management LLC purchased a new position in Scorpio Tankers in the fourth quarter valued at approximately $1,003,000. Janney Montgomery Scott LLC purchased a new stake in shares of Scorpio Tankers during the first quarter worth $596,000. BNP Paribas Financial Markets raised its position in shares of Scorpio Tankers by 37.0% in the first quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company's stock worth $6,356,000 after buying an additional 23,975 shares in the last quarter. Twin Focus Capital Partners LLC purchased a new stake in shares of Scorpio Tankers in the fourth quarter worth $5,115,000. Finally, Acadian Asset Management LLC raised its position in shares of Scorpio Tankers by 101.4% in the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company's stock worth $1,391,000 after buying an additional 9,798 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Trading Up 0.7 %

Shares of STNG stock traded up $0.50 during mid-day trading on Tuesday, hitting $71.80. The company's stock had a trading volume of 513,366 shares, compared to its average volume of 919,671. The company's fifty day simple moving average is $71.53 and its 200-day simple moving average is $74.63. Scorpio Tankers has a 52 week low of $47.88 and a 52 week high of $84.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. The company has a market cap of $3.82 billion, a PE ratio of 6.60, a P/E/G ratio of 1.96 and a beta of 0.16.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to analyst estimates of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business's quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the company posted $2.41 EPS. As a group, equities research analysts expect that Scorpio Tankers will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. Scorpio Tankers's payout ratio is presently 14.84%.

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.