Scorpio Tankers’ (STNG) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a report published on Tuesday,Benzinga reports. They currently have a $100.00 price objective on the shipping company’s stock.

Several other equities analysts have also weighed in on the company. Evercore reissued an “outperform” rating and issued a $94.00 target price on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Bank of America cut Scorpio Tankers from a “buy” rating to an “underperform” rating and lowered their price target for the company from $100.00 to $78.00 in a research note on Tuesday, June 30th. Morgan Stanley set a $82.00 price target on shares of Scorpio Tankers and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Zacks Research lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a research note on Thursday, June 18th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Scorpio Tankers currently has an average rating of “Hold” and a consensus target price of $89.57.

Scorpio Tankers Price Performance

STNG opened at $76.35 on Tuesday. The company has a fifty day moving average price of $76.72 and a two-hundred day moving average price of $74.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.87 and a current ratio of 6.93. The firm has a market capitalization of $3.85 billion, a PE ratio of 4.77 and a beta of -0.22. Scorpio Tankers has a 52 week low of $43.78 and a 52 week high of $87.39.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.12. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.The business had revenue of $408.73 million for the quarter, compared to analyst estimates of $398.25 million. During the same period last year, the company earned $1.41 EPS. The firm’s revenue was up 77.5% on a year-over-year basis. As a group, analysts anticipate that Scorpio Tankers will post 11.1 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Scorpio Tankers’s payout ratio is presently 11.24%.

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Scorpio Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock valued at $996,000 after acquiring an additional 1,144 shares in the last quarter. Intech Investment Management LLC increased its holdings in Scorpio Tankers by 9.4% during the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after purchasing an additional 2,802 shares in the last quarter. Legal & General Group Plc increased its holdings in Scorpio Tankers by 11.2% during the 2nd quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock worth $391,000 after purchasing an additional 1,005 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Scorpio Tankers by 593.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after purchasing an additional 2,402 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Scorpio Tankers by 3.1% in the 2nd quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock valued at $5,932,000 after purchasing an additional 4,618 shares during the period. Institutional investors own 54.64% of the company’s stock.

About Scorpio Tankers

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.