Scorpio Tankers (NYSE:STNG) Stock Rating Lowered by Stifel Nicolaus

Scorpio Tankers (NYSE:STNG - Get Free Report) was downgraded by equities researchers at Stifel Nicolaus from a "buy" rating to a "hold" rating in a report released on Wednesday, MarketBeat.com reports. They presently have a $65.00 price target on the shipping company's stock, down from their prior price target of $90.00. Stifel Nicolaus' price target would indicate a potential upside of 5.55% from the company's current price.

A number of other research firms have also recently issued reports on STNG. Evercore ISI lifted their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an "outperform" rating in a research note on Tuesday, July 23rd. Jefferies Financial Group reissued a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, July 30th. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Finally, Bank of America lowered their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $82.40.

Scorpio Tankers Price Performance

Shares of NYSE:STNG traded down $3.18 during trading on Wednesday, reaching $61.58. The stock had a trading volume of 1,724,190 shares, compared to its average volume of 908,089. Scorpio Tankers has a 52 week low of $52.68 and a 52 week high of $84.67. The business's 50-day moving average price is $69.81 and its 200 day moving average price is $74.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The stock has a market capitalization of $3.27 billion, a PE ratio of 4.84, a P/E/G ratio of 1.87 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company had revenue of $380.70 million during the quarter, compared to analysts' expectations of $368.62 million. During the same quarter in the previous year, the company posted $2.41 earnings per share. Scorpio Tankers's quarterly revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts predict that Scorpio Tankers will post 12.43 earnings per share for the current year.

Institutional Trading of Scorpio Tankers

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new stake in Scorpio Tankers during the 1st quarter worth $596,000. BNP Paribas Financial Markets grew its holdings in shares of Scorpio Tankers by 37.0% in the 1st quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company's stock valued at $6,356,000 after buying an additional 23,975 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Scorpio Tankers by 101.4% in the 1st quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company's stock valued at $1,391,000 after buying an additional 9,798 shares during the period. Cetera Investment Advisers acquired a new position in shares of Scorpio Tankers in the 1st quarter valued at $2,107,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Scorpio Tankers by 354.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company's stock valued at $3,896,000 after buying an additional 42,451 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

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.