Scorpio Tankers Inc. (NYSE:STNG) Receives $93.17 Average PT from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $93.50.

STNG has been the subject of a number of recent analyst reports. B. Riley Financial restated a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Jefferies Financial Group initiated coverage on shares of Scorpio Tankers in a research report on Friday, April 24th. They set a “buy” rating and a $90.00 price target for the company. Bank of America upgraded shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and boosted their price target for the company from $76.00 to $100.00 in a research report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th.

Scorpio Tankers Stock Down 0.2%

Scorpio Tankers stock opened at $74.49 on Friday. Scorpio Tankers has a 1-year low of $37.96 and a 1-year high of $87.39. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.32 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. The firm has a 50 day simple moving average of $77.68 and a 200 day simple moving average of $67.33.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data 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. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The business had revenue of $312.86 million during the quarter, compared to analyst estimates of $286.81 million. During the same period in the previous year, the business earned $1.03 EPS. Scorpio Tankers’s revenue was up 46.2% compared to the same quarter last year. On average, analysts predict that Scorpio Tankers will post 11.44 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, May 29th. Scorpio Tankers’s payout ratio is 17.70%.

Institutional Trading of Scorpio Tankers

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Scorpio Tankers by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock worth $233,544,000 after purchasing an additional 122,874 shares during the last quarter. American Century Companies Inc. lifted its stake in Scorpio Tankers by 7.6% in the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after purchasing an additional 135,123 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Scorpio Tankers by 7.1% in the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after purchasing an additional 83,294 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Scorpio Tankers by 12.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock worth $62,166,000 after purchasing an additional 137,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Scorpio Tankers by 7.6% in the first quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock worth $68,555,000 after purchasing an additional 64,511 shares during the last quarter. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Company Profile

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.