Scorpio Tankers Inc. (NYSE:STNG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $82.60.

Several research firms have recently commented on STNG. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Thursday, May 9th. Bank of America boosted their price target on shares of Scorpio Tankers from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 18th. Finally, StockNews.com upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th.

Institutional Trading of Scorpio Tankers

A number of large investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in shares of Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 319 shares during the period. Summit Global Investments boosted its stake in shares of Scorpio Tankers by 244.9% during the second quarter. Summit Global Investments now owns 15,203 shares of the shipping company’s stock valued at $1,236,000 after purchasing an additional 10,795 shares during the period. Nisa Investment Advisors LLC lifted its stake in Scorpio Tankers by 5,228.3% in the second quarter. Nisa Investment Advisors LLC now owns 74,436 shares of the shipping company’s stock worth $6,051,000 after acquiring an additional 73,039 shares during the period. Raymond James & Associates lifted its stake in Scorpio Tankers by 4.4% in the second quarter. Raymond James & Associates now owns 55,120 shares of the shipping company’s stock worth $4,481,000 after acquiring an additional 2,302 shares during the period. Finally, Blue Trust Inc. lifted its stake in Scorpio Tankers by 7,942.9% in the second quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock worth $92,000 after acquiring an additional 1,112 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $77.60 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58. Scorpio Tankers has a 1-year low of $41.42 and a 1-year high of $84.67. The company has a market capitalization of $4.24 billion, a P/E ratio of 7.20, a P/E/G ratio of 0.92 and a beta of 0.16. The firm’s 50 day simple moving average is $80.00 and its two-hundred day simple moving average is $73.07.

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

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Friday, June 14th. Scorpio Tankers’s dividend payout ratio is currently 14.84%.

Scorpio Tankers Company Profile

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.