Jefferies Financial Group Reaffirms “Buy” Rating for Scorpio Tankers (NYSE:STNG)

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Financial Group in a research note issued on Tuesday, Benzinga reports. They presently have a $90.00 target price on the shipping company’s stock. Jefferies Financial Group’s price target points to a potential upside of 16.37% from the stock’s previous close.

A number of other brokerages have also weighed in on STNG. StockNews.com raised Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Evercore ISI raised their target price on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Bank of America decreased their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus raised their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.17.

Scorpio Tankers Stock Up 3.8 %

NYSE STNG traded up $2.86 on Tuesday, hitting $77.34. 473,143 shares of the company were exchanged, compared to its average volume of 970,618. Scorpio Tankers has a 12 month low of $45.95 and a 12 month high of $84.67. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35. The company has a market cap of $4.22 billion, a PE ratio of 7.19, a PEG ratio of 1.12 and a beta of 0.16. The stock has a fifty day moving average of $79.36 and a 200-day moving average of $73.46.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, beating the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. The company had revenue of $389.76 million during the quarter, compared to the consensus estimate of $381.46 million. As a group, analysts forecast that Scorpio Tankers will post 13.09 earnings per share for the current year.

Institutional Trading of Scorpio Tankers

Large investors have recently added to or reduced their stakes in the stock. LSV Asset Management grew its position in shares of Scorpio Tankers by 118.1% during the 1st quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock valued at $131,594,000 after acquiring an additional 995,978 shares during the period. International Assets Investment Management LLC increased its position in Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after buying an additional 950,600 shares during the last quarter. Norges Bank bought a new stake in shares of Scorpio Tankers in the fourth quarter valued at $34,009,000. Vanguard Group Inc. lifted its position in shares of Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after buying an additional 549,395 shares during the last quarter. Finally, Hartree Partners LP lifted its position in shares of Scorpio Tankers by 634.5% during the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock valued at $37,313,000 after buying an additional 450,498 shares during the last quarter. Hedge funds and other 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.