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

Scorpio Tankers Inc. (NYSE:STNG) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $69.00.

Several analysts have issued reports on STNG shares. Evercore ISI set a $80.00 target price on Scorpio Tankers and gave the stock an “outperform” rating in a research note on Monday. Bank of America upped their target price on Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research note on Wednesday, October 8th. B. Riley reaffirmed a “buy” rating and issued a $80.00 target price (up previously from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. Finally, Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th.

Scorpio Tankers Stock Down 1.4%

Shares of NYSE STNG opened at $60.76 on Wednesday. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $63.05. The company has a current ratio of 4.81, a quick ratio of 4.75 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 10.28 and a beta of -0.07. The business has a 50-day moving average of $56.88 and a 200-day moving average of $47.48.

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

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, November 14th. Scorpio Tankers’s payout ratio is currently 27.07%.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Scorpio Tankers by 6.7% during the first quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company’s stock valued at $100,658,000 after purchasing an additional 167,218 shares during the period. American Century Companies Inc. boosted its stake in shares of Scorpio Tankers by 9.4% during the second quarter. American Century Companies Inc. now owns 1,778,606 shares of the shipping company’s stock valued at $69,597,000 after purchasing an additional 153,475 shares during the period. Geode Capital Management LLC boosted its stake in shares of Scorpio Tankers by 0.5% during the second quarter. Geode Capital Management LLC now owns 798,508 shares of the shipping company’s stock valued at $31,246,000 after purchasing an additional 3,692 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Scorpio Tankers during the second quarter valued at approximately $30,890,000. Finally, AQR Capital Management LLC boosted its stake in shares of Scorpio Tankers by 91.9% during the second quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock valued at $25,148,000 after purchasing an additional 307,815 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.