Scorpio Tankers (NYSE:STNG) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Scorpio Tankers (NYSE:STNG) from a buy rating to a hold rating in a research report report published on Friday morning.

A number of other equities research analysts also recently weighed in on STNG. Jefferies Financial Group reaffirmed a buy rating and issued a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Bank of America lowered their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a neutral rating on the stock in a research note on Tuesday, July 23rd. Stifel Nicolaus raised their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, Evercore ISI lifted their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $84.17.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock traded down $1.08 on Friday, reaching $73.44. The stock had a trading volume of 527,955 shares, compared to its average volume of 963,531. Scorpio Tankers has a 1 year low of $47.88 and a 1 year high of $84.67. The company has a market cap of $3.90 billion, a P/E ratio of 6.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.17. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $77.47 and its two-hundred day moving average is $74.12.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same period in the prior year, the firm posted $2.41 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, research analysts anticipate that Scorpio Tankers will post 13.08 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is 14.84%.

Institutional Trading of Scorpio Tankers

Large investors have recently added to or reduced their stakes in the stock. 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 acquiring an additional 291 shares in the last quarter. Fifth Third Bancorp raised its position in 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 during the last quarter. Global Retirement Partners LLC raised its position in Scorpio Tankers by 8,800.0% in the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock worth $38,000 after buying an additional 528 shares during the last quarter. Quarry LP raised its position in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after buying an additional 229 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Scorpio Tankers in the 1st quarter worth about $58,000. Institutional investors own 54.64% of the company’s stock.

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.