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

Scorpio Tankers Inc. (NYSE:STNG) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $93.50.

STNG has been the subject of several research analyst reports. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. BTIG Research raised their price target on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday. Jefferies Financial Group initiated coverage on Scorpio Tankers in a report on Friday, April 24th. They set a “buy” rating and a $90.00 price target for the company. Finally, Evercore restated an “outperform” rating and set a $98.00 price target on shares of Scorpio Tankers in a report on Wednesday, May 27th.

Scorpio Tankers Trading Up 2.3%

Shares of STNG stock opened at $82.42 on Thursday. Scorpio Tankers has a 12-month low of $38.83 and a 12-month high of $87.39. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $78.82 and its 200-day moving average price is $69.32. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 8.10 and a beta of -0.26.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.23. The business had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Equities research analysts predict that Scorpio Tankers will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $0.45 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.80 annualized dividend and a yield of 2.2%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 17.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock valued at $996,000 after buying an additional 1,144 shares during the period. Intech Investment Management LLC boosted its position in shares of Scorpio Tankers by 9.4% during the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after buying an additional 2,802 shares during the period. Legal & General Group Plc boosted its position in shares of Scorpio Tankers by 11.2% during the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock valued at $391,000 after buying an additional 1,005 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Scorpio Tankers by 593.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after buying an additional 2,402 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Scorpio Tankers by 3.1% during the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock valued at $5,932,000 after buying an additional 4,618 shares during the period. Hedge funds and other 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.