Scorpio Tankers' (STNG) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Scorpio Tankers (NYSE:STNG - Free Report) in a research report released on Tuesday, Benzinga reports. They currently have a $90.00 target price on the shipping company's stock.

Several other research analysts have also recently weighed in on the stock. Fearnley Fonds upgraded shares of Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Evercore ISI upped their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Bank of America dropped their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating and dropped their target price for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $82.40.

Scorpio Tankers Trading Down 2.7 %

STNG stock traded down $1.63 during trading on Tuesday, hitting $59.32. The company had a trading volume of 2,994,043 shares, compared to its average volume of 915,759. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $69.09 and a 200-day moving average price of $74.14. Scorpio Tankers has a 12 month low of $52.68 and a 12 month high of $84.67. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 5.40 and a beta of 0.15.

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. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm 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 EPS. Scorpio Tankers's revenue was up 15.6% on a year-over-year basis. As a group, analysts predict that Scorpio Tankers will post 11.46 earnings per share for the current year.

Institutional Trading of Scorpio Tankers

A number of large investors have recently made changes to their positions in STNG. EverSource Wealth Advisors LLC increased its position in shares of Scorpio Tankers by 970.0% in 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 in the last quarter. Fifth Third Bancorp boosted its stake in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock worth $34,000 after purchasing an additional 319 shares during the period. Quarry LP boosted its stake in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after purchasing an additional 229 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after purchasing an additional 177 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in Scorpio Tankers in the 1st quarter worth $58,000. 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.