Scorpio Tankers (NYSE:STNG) Hits New 12-Month High – Time to Buy?

Scorpio Tankers Inc. (NYSE:STNG)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $71.71 and last traded at $70.4960, with a volume of 80206 shares trading hands. The stock had previously closed at $70.02.

Wall Street Analyst Weigh In

STNG has been the subject of several research reports. BTIG Research lifted their target price on Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Zacks Research upgraded Scorpio Tankers from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Jefferies Financial Group restated a “buy” rating and set a $70.00 price objective on shares of Scorpio Tankers in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.67.

Scorpio Tankers Stock Up 1.0%

The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.61 billion, a P/E ratio of 9.97 and a beta of -0.25. The business’s fifty day moving average price is $57.92 and its 200 day moving average price is $56.52.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The company had revenue of $252.65 million during the quarter, compared to analysts’ expectations of $238.93 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Scorpio Tankers’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, equities research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. Scorpio Tankers’s payout ratio is 25.46%.

Institutional Investors Weigh In On Scorpio Tankers

A number of institutional investors have recently made changes to their positions in STNG. SBI Securities Co. Ltd. lifted its stake in shares of Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after acquiring an additional 246 shares during the period. Global Retirement Partners LLC lifted its holdings in Scorpio Tankers by 1,645.2% in the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after buying an additional 510 shares during the period. Clearstead Advisors LLC grew its stake in Scorpio Tankers by 67.9% during the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after purchasing an additional 205 shares during the period. Zions Bancorporation National Association UT bought a new stake in Scorpio Tankers in the fourth quarter worth approximately $29,000. Finally, Spire Wealth Management boosted its holdings in shares of Scorpio Tankers by 77.1% during the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock worth $30,000 after buying an additional 330 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.