Scorpio Tankers (NYSE:STNG - Free Report) had its price target cut by Jefferies Financial Group from $80.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the shipping company's stock.
Several other brokerages have also recently commented on STNG. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Bank of America decreased their target price on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and cut their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI reduced their price target on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Finally, Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of "Hold" and an average target price of $75.40.
Read Our Latest Research Report on Scorpio Tankers
Scorpio Tankers Trading Down 1.4 %
Shares of STNG stock traded down $0.67 on Thursday, hitting $47.23. The stock had a trading volume of 707,537 shares, compared to its average volume of 914,202. The company's 50 day moving average price is $58.57 and its 200-day moving average price is $69.36. Scorpio Tankers has a 1 year low of $46.66 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a market capitalization of $2.39 billion, a P/E ratio of 3.44 and a beta of 0.13.
Scorpio Tankers (NYSE:STNG - Get Free Report) last issued 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 analyst estimates of $267.91 million. During the same period in the prior year, the firm earned $1.91 earnings per share. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts anticipate that Scorpio Tankers will post 11.04 earnings per share for the current year.
Scorpio Tankers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 3.39%. Scorpio Tankers's dividend payout ratio is currently 11.47%.
Hedge Funds Weigh In On Scorpio Tankers
Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake 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 acquiring an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Scorpio Tankers in the 3rd quarter valued at about $28,000. Fifth Third Bancorp boosted its position 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 valued at $34,000 after purchasing an additional 319 shares during the period. Quarry LP boosted its position in shares of Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock valued at $54,000 after purchasing an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its position in Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after buying an additional 177 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.
About Scorpio Tankers
(
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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.
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