Scorpio Tankers Inc. (NYSE:STNG) Receives $74.00 Average Price Target from Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $74.00.

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Evercore ISI lifted their target price on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. upped their price target on Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Wednesday, February 14th.

Scorpio Tankers Stock Down 0.6 %

STNG stock opened at $71.99 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.13 and a quick ratio of 1.12. The company has a 50-day moving average of $70.50 and a two-hundred day moving average of $64.55. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18. Scorpio Tankers has a 52-week low of $40.34 and a 52-week high of $74.04.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The firm had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. During the same quarter in the prior year, the company earned $4.24 EPS. The firm’s revenue for the quarter was down 31.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Scorpio Tankers will post 12.25 EPS for the current year.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. Scorpio Tankers’s dividend payout ratio is presently 16.10%.

Institutional Trading of Scorpio Tankers

Several institutional investors have recently bought and sold shares of STNG. Neo Ivy Capital Management bought a new position in shares of Scorpio Tankers during the third quarter valued at $27,000. CWM LLC increased its position in shares of Scorpio Tankers by 1,037.0% during the 3rd quarter. CWM LLC now owns 523 shares of the shipping company’s stock worth $28,000 after purchasing an additional 477 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Scorpio Tankers by 8,800.0% during the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 528 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Scorpio Tankers in the first quarter valued at about $58,000. Finally, Sunbelt Securities Inc. bought a new stake in Scorpio Tankers during the third quarter worth about $54,000. Institutional investors and hedge funds 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.