Scorpio Tankers Inc. (NYSE:STNG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Scorpio Tankers Inc. (NYSE:STNG) have received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $69.20.

Several research firms recently commented on STNG. Bank of America cut their target price on Scorpio Tankers from $73.00 to $67.00 and set a “buy” rating for the company in a research report on Monday. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Evercore ISI set a $80.00 target price on shares of Scorpio Tankers and gave the stock an “outperform” rating in a report on Monday, November 3rd. Jefferies Financial Group reissued a “buy” rating and set a $70.00 price target on shares of Scorpio Tankers in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Scorpio Tankers in a research note on Monday.

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors and hedge funds have recently bought and sold shares of the business. Moors & Cabot Inc. increased its stake in shares of Scorpio Tankers by 12.6% in the first quarter. Moors & Cabot Inc. now owns 13,400 shares of the shipping company’s stock valued at $504,000 after buying an additional 1,500 shares in the last quarter. Vanguard Group Inc. grew its holdings in Scorpio Tankers by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company’s stock worth $100,658,000 after acquiring an additional 167,218 shares during the last quarter. Invesco Ltd. increased its position in Scorpio Tankers by 17.8% in the 1st quarter. Invesco Ltd. now owns 137,600 shares of the shipping company’s stock valued at $5,171,000 after acquiring an additional 20,764 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Scorpio Tankers in the first quarter worth about $746,000. Finally, Nuveen LLC acquired a new position in shares of Scorpio Tankers during the first quarter worth approximately $4,666,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $55.83 on Friday. The firm has a market cap of $2.85 billion, a P/E ratio of 9.45 and a beta of -0.30. The firm’s 50-day simple moving average is $58.79 and its 200-day simple moving average is $50.61. Scorpio Tankers has a twelve month low of $30.63 and a twelve month high of $65.52. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.75 and a current ratio of 4.81.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, October 30th. The shipping company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.10. Scorpio Tankers had a net margin of 32.01% and a return on equity of 7.42%. The firm had revenue of $232.92 million during the quarter, compared to analysts’ expectations of $228.09 million. During the same quarter last year, the company earned $1.75 earnings per share. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. As a group, research analysts expect that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 14th will be given a dividend of $0.42 per share. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a yield of 3.0%. Scorpio Tankers’s dividend payout ratio is currently 28.43%.

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.