Scorpio Tankers Inc. (NYSE:STNG) Receives $75.40 Average Target Price from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $75.40.

Several research firms have commented on STNG. Evercore ISI lowered their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Jefferies Financial Group lowered their price target on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Bank of America lowered their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd.

Scorpio Tankers Trading Up 3.3 %

Shares of STNG stock opened at $56.68 on Thursday. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 4.06 and a beta of 0.12. Scorpio Tankers has a 12-month low of $45.94 and a 12-month high of $84.67. The stock’s 50-day moving average price is $51.26 and its 200-day moving average price is $64.46.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 EPS. Equities research analysts predict that Scorpio Tankers will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Hedge Funds Weigh In On Scorpio Tankers

Several hedge funds have recently bought and sold shares of the business. Truist Financial Corp lifted its position in shares of Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after purchasing an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after buying an additional 177 shares during the period. Quarry LP lifted its holdings in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in Scorpio Tankers by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after buying an additional 252 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after acquiring an additional 291 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

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.