Analysts Set Scorpio Tankers Inc. (NYSE:STNG) PT at $76.40

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $76.40.

A number of research analysts recently commented on the company. Jefferies Financial Group lowered their price objective on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, November 14th. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Stifel Nicolaus downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating and cut their price objective for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Evercore ISI reduced their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th.

Scorpio Tankers Stock Performance

STNG traded down $0.07 during trading hours on Wednesday, hitting $55.63. 173,042 shares of the stock were exchanged, compared to its average volume of 917,402. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 3.99 and a beta of 0.18. The stock has a 50-day simple moving average of $64.69 and a 200-day simple moving average of $72.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. Scorpio Tankers has a 12 month low of $52.68 and a 12 month high of $84.67.

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

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a $0.40 dividend. 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 2.88%. Scorpio Tankers's dividend payout ratio is presently 11.47%.

Institutional Trading of Scorpio Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after acquiring an additional 291 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Scorpio Tankers during the 3rd quarter valued at $28,000. Fifth Third Bancorp raised its stake in shares of 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 buying an additional 319 shares in the last quarter. Quarry LP lifted its holdings in shares of Scorpio Tankers by 52.8% in the second 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 period. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of Scorpio Tankers by 34.2% in the second 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 period. 54.64% of the stock is currently owned by institutional investors.

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.