Scorpio Tankers (NYSE:STNG) Price Target Raised to $86.00

Scorpio Tankers (NYSE:STNG) had its target price upped by Stifel Nicolaus from $84.00 to $86.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the shipping company’s stock.

Several other research analysts have also recently commented on the stock. Bank of America decreased their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a neutral rating for the company in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Scorpio Tankers from a hold rating to a buy rating in a research report on Friday, May 10th. Evercore ISI increased their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an outperform rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group reiterated a buy rating and issued a $90.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $84.17.

Scorpio Tankers Price Performance

STNG opened at $72.69 on Wednesday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.16. Scorpio Tankers has a fifty-two week low of $42.92 and a fifty-two week high of $84.67. The company’s 50-day moving average price is $79.52 and its 200 day moving average price is $73.23. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, topping 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 firm had revenue of $389.76 million during the quarter, compared to analysts’ expectations of $381.46 million. As a group, sell-side analysts expect that Scorpio Tankers will post 13.09 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Friday, June 14th. Scorpio Tankers’s payout ratio is 14.84%.

Institutional Trading of Scorpio Tankers

Large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its holdings in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Scorpio Tankers by 8,800.0% during the first quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock worth $38,000 after buying an additional 528 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Scorpio Tankers during the first quarter worth approximately $58,000. Blue Trust Inc. boosted its holdings in Scorpio Tankers by 7,942.9% during the second quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock worth $92,000 after buying an additional 1,112 shares in the last quarter. Finally, U S Global Investors Inc. boosted its holdings in Scorpio Tankers by 14.5% during the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after buying an additional 220 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

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.