Scorpio Tankers (NYSE:STNG) Reaches New 12-Month Low - Here's Why

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $48.51 and last traded at $48.51, with a volume of 46843 shares trading hands. The stock had previously closed at $49.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lowered Scorpio Tankers from a "buy" rating to a "hold" rating and lowered their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Bank of America lowered their price objective on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Evercore ISI reduced their target price on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group reduced their target price on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Finally, StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $76.40.

Scorpio Tankers Trading Down 1.5 %

The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 3.50 and a beta of 0.13. The firm has a 50-day moving average of $59.97 and a 200 day moving average of $70.14.

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

Scorpio Tankers Announces Dividend

The company also recently declared 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. This represents a $1.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers's dividend payout ratio (DPR) is presently 11.47%.

Hedge Funds Weigh In On Scorpio Tankers

Several hedge funds have recently modified their holdings of STNG. EverSource Wealth Advisors LLC grew its holdings 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 worth $25,000 after acquiring an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Scorpio Tankers during the third quarter valued at $28,000. Fifth Third Bancorp boosted its position in Scorpio Tankers by 319.0% during the second 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 last quarter. Quarry LP boosted its position in Scorpio Tankers by 52.8% during the second 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 last quarter. Finally, Newbridge Financial Services Group Inc. boosted 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 valued at $57,000 after purchasing an additional 177 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.