Scorpio Tankers Inc. (NYSE:STNG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $60.50.

Several research analysts have recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Evercore ISI reduced their price objective on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th.

Hedge Funds Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Scorpio Tankers by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company’s stock valued at $174,512,000 after purchasing an additional 10,854 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Scorpio Tankers by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company’s stock worth $100,658,000 after purchasing an additional 167,218 shares in the last quarter. FMR LLC lifted its holdings in shares of Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after buying an additional 1,899,981 shares during the last quarter. Cooper Creek Partners Management LLC lifted its holdings in shares of Scorpio Tankers by 380.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock valued at $109,098,000 after buying an additional 1,738,190 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Scorpio Tankers by 4.3% in the 1st quarter. American Century Companies Inc. now owns 1,625,131 shares of the shipping company’s stock valued at $61,072,000 after buying an additional 66,729 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 3.7%

Shares of Scorpio Tankers stock opened at $43.37 on Friday. Scorpio Tankers has a twelve month low of $30.63 and a twelve month high of $84.67. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 3.33 and a beta of -0.04. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $38.67 and a 200 day moving average price of $43.11.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.32. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. During the same quarter last year, the firm posted $3.97 earnings per share. The business’s quarterly revenue was down 45.3% on a year-over-year basis. Equities research analysts forecast that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s payout ratio is 15.76%.

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.