Analysts Set Scorpio Tankers Inc. (NYSE:STNG) PT at $88.80

Scorpio Tankers Inc. (NYSE:STNG) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $88.80.

Several equities research analysts recently commented on STNG shares. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Bank of America reduced 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 report on Tuesday, July 23rd. Jefferies Financial Group restated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday, July 30th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus upped their price objective on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th.

Scorpio Tankers Price Performance

STNG opened at $72.94 on Tuesday. The company has a 50 day moving average of $71.41 and a two-hundred day moving average of $74.64. Scorpio Tankers has a 52-week low of $49.11 and a 52-week high of $84.67. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company has a market cap of $3.98 billion, a P/E ratio of 6.77, a P/E/G ratio of 2.00 and a beta of 0.15.

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, beating the consensus estimate of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.41 EPS. On average, analysts expect that Scorpio Tankers will post 12.71 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew 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 worth $25,000 after purchasing an additional 291 shares in the last quarter. Fifth Third Bancorp grew 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 worth $34,000 after acquiring an additional 319 shares in the last quarter. Quarry LP increased its holdings 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 acquiring an additional 229 shares during the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Scorpio Tankers by 34.2% during the 2nd 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. Finally, Fidelis Capital Partners LLC bought a new position in Scorpio Tankers during the first quarter worth $58,000. 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.