Scorpio Tankers (NYSE:STNG) Hits New 52-Week Low – Here’s What Happened

Scorpio Tankers Inc. (NYSE:STNG) shares reached a new 52-week low on Tuesday . The company traded as low as $40.73 and last traded at $41.99, with a volume of 1047222 shares changing hands. The stock had previously closed at $41.23.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STNG. Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Evercore ISI cut their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus reduced their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The firm has a market cap of $2.12 billion, a PE ratio of 3.22 and a beta of 0.08. The business’s fifty day moving average is $48.68 and its 200-day moving average is $58.15.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. On average, research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.81%. Scorpio Tankers’s dividend payout ratio is presently 12.27%.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers during the third quarter worth about $28,000. GAMMA Investing LLC lifted its stake in shares of Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after buying an additional 402 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after buying an additional 263 shares during the period. Covestor Ltd grew its stake in Scorpio Tankers by 1,375.0% in the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after buying an additional 770 shares in the last quarter. Finally, AM Squared Ltd bought a new stake in Scorpio Tankers during the 3rd quarter valued at $64,000. Hedge funds and other 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.