Scorpio Tankers (NYSE:STNG) PT Lowered to $82.00

Scorpio Tankers (NYSE:STNG) had its price target lowered by Bank of America from $85.00 to $82.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the shipping company’s stock. Bank of America‘s target price points to a potential upside of 7.33% from the company’s previous close.

A number of other brokerages have also weighed in on STNG. StockNews.com raised Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Scorpio Tankers Stock Down 1.5 %

Scorpio Tankers stock traded down $1.19 during midday trading on Tuesday, reaching $76.40. The company’s stock had a trading volume of 186,168 shares, compared to its average volume of 977,851. Scorpio Tankers has a fifty-two week low of $41.42 and a fifty-two week high of $84.67. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. The company has a market cap of $4.17 billion, a P/E ratio of 7.09, a P/E/G ratio of 0.92 and a beta of 0.16. The business has a 50-day simple moving average of $80.00 and a 200-day simple moving average of $73.07.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. The firm had revenue of $389.76 million for the quarter, compared to analyst estimates of $381.46 million. On average, research analysts expect that Scorpio Tankers will post 13.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Epoch Investment Partners Inc. lifted its position in shares of Scorpio Tankers by 0.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock valued at $1,379,000 after acquiring an additional 150 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Scorpio Tankers by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock worth $811,000 after purchasing an additional 171 shares during the last quarter. U S Global Investors Inc. raised its position in shares of Scorpio Tankers by 14.5% during the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after purchasing an additional 220 shares during the last quarter. AlphaMark Advisors LLC raised its position in shares of Scorpio Tankers by 5.9% during the 1st quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock worth $358,000 after purchasing an additional 281 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after purchasing an additional 319 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.