Scorpio Tankers’ (STNG) Buy Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a report published on Thursday morning,Benzinga reports. They currently have a $65.00 target price on the shipping company’s stock.

Several other equities research analysts have also commented on STNG. Stifel Nicolaus decreased their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Evercore ISI decreased their target price on Scorpio Tankers from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.50.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $39.78 on Thursday. The company has a market cap of $2.03 billion, a P/E ratio of 3.05 and a beta of -0.12. Scorpio Tankers has a one year low of $30.63 and a one year high of $84.67. The business has a fifty day moving average of $37.39 and a two-hundred day moving average of $46.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. The firm had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business’s revenue for the quarter was down 45.3% compared to the same quarter last year. During the same quarter last year, the business earned $3.97 earnings per share. As a group, analysts predict that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.02%. Scorpio Tankers’s dividend payout ratio is currently 15.76%.

Institutional Trading of Scorpio Tankers

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in Scorpio Tankers by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company’s stock valued at $174,512,000 after purchasing an additional 10,854 shares in the last quarter. FMR LLC lifted its stake in shares of Scorpio Tankers by 266.2% during the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after buying an additional 1,899,981 shares during the period. Vanguard Group Inc. boosted its position in Scorpio Tankers by 22.3% during the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after acquiring an additional 458,120 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in Scorpio Tankers by 380.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock worth $109,098,000 after acquiring an additional 1,738,190 shares during the period. Finally, American Century Companies Inc. raised its holdings in Scorpio Tankers by 10.9% in the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company’s stock valued at $77,437,000 after acquiring an additional 153,267 shares during the last quarter. Institutional investors and hedge funds 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.