Brokerages Set Scorpio Tankers Inc. (NYSE:STNG) Target Price at $60.50

Scorpio Tankers Inc. (NYSE:STNG) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $60.50.

STNG has been the subject of a number of research reports. Stifel Nicolaus decreased their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Fearnley Fonds raised Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, Evercore ISI decreased their price target on Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, May 2nd.

Scorpio Tankers Trading Up 0.9%

NYSE STNG opened at $42.05 on Wednesday. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 3.22 and a beta of -0.12. 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 has a one year low of $30.63 and a one year high of $84.67. The company’s 50 day moving average price is $37.76 and its 200 day moving average price is $44.99.

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

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 3.80%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 15.76%.

Institutional Trading of Scorpio Tankers

A number of hedge funds have recently made changes to their positions in STNG. Pinnacle Holdings LLC bought a new position in Scorpio Tankers during the 1st quarter valued at $26,000. Signaturefd LLC raised its stake in shares of Scorpio Tankers by 95.6% in the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company’s stock valued at $29,000 after purchasing an additional 372 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares during the last quarter. Finally, Covestor Ltd grew its stake in Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock worth $41,000 after purchasing an additional 770 shares in 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.