Brokerages Set Scorpio Tankers Inc. (NYSE:STNG) Target Price at $75.40

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $75.40.

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

Scorpio Tankers Price Performance

STNG traded down $0.52 during trading on Thursday, reaching $52.34. The company's stock had a trading volume of 967,452 shares, compared to its average volume of 1,068,990. Scorpio Tankers has a 1 year low of $45.94 and a 1 year high of $84.67. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 3.75 and a beta of 0.12. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $51.45 and a two-hundred day simple moving average of $65.00.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its 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 return on equity of 22.56% and a net margin of 52.40%. The business had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. During the same period last year, the company earned $1.91 EPS. The company's revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts anticipate that Scorpio Tankers will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers's payout ratio is presently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at $28,000. GAMMA Investing LLC raised its stake in Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after acquiring an additional 402 shares in the last quarter. Quarry LP lifted its position in 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 acquiring an additional 229 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its stake in 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 acquiring an additional 177 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other 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.