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

Shares of Scorpio Tankers Inc. (NYSE:STNG) have earned a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $93.1667.

Several research firms recently commented on STNG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $83.00 price objective on shares of Scorpio Tankers in a research note on Friday, February 13th. Zacks Research raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Scorpio Tankers in a research note on Friday, April 24th. They set a “buy” rating and a $90.00 price objective on the stock. Bank of America raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $76.00 to $100.00 in a research note on Thursday, May 7th. Finally, Evercore set a $96.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, May 5th.

Scorpio Tankers Trading Down 0.5%

Shares of STNG opened at $80.24 on Friday. The firm’s 50-day moving average price is $76.68 and its 200-day moving average price is $66.79. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 7.89 and a beta of -0.24. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. Scorpio Tankers has a 1-year low of $37.96 and a 1-year high of $87.39.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. The firm had revenue of $312.86 million for the quarter, compared to analyst estimates of $286.81 million. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. Sell-side analysts anticipate that Scorpio Tankers will post 11.44 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.80 annualized dividend and a yield of 2.2%. Scorpio Tankers’s payout ratio is presently 17.70%.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds have recently bought and sold shares of STNG. Merewether Investment Management LP bought a new stake in Scorpio Tankers during the third quarter worth about $38,471,000. Assenagon Asset Management S.A. raised its holdings in Scorpio Tankers by 136.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock worth $43,394,000 after buying an additional 492,584 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Scorpio Tankers by 68.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock worth $45,179,000 after buying an additional 326,973 shares during the last quarter. AQR Capital Management LLC raised its holdings in Scorpio Tankers by 91.9% in the second quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after buying an additional 307,815 shares during the last quarter. Finally, Credit Agricole S A purchased a new position in Scorpio Tankers in the third quarter worth about $16,703,000. Institutional investors own 54.64% of the company’s stock.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.