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

Shares of Scorpio Tankers Inc. (NYSE:STNG) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $80.67.

STNG has been the subject of several recent research reports. Bank of America increased their price objective on shares of Scorpio Tankers from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, June 18th. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 9th.

Scorpio Tankers Stock Down 2.7 %

Shares of NYSE:STNG opened at $81.29 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. Scorpio Tankers has a 52-week low of $40.34 and a 52-week high of $84.67. The company has a 50 day moving average of $78.31 and a two-hundred day moving average of $71.13. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.10 and a beta of 0.20.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. The company had revenue of $389.76 million during the quarter, compared to the consensus estimate of $381.46 million. As a group, analysts forecast that Scorpio Tankers will post 12.18 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, June 14th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Hedge Funds Weigh In On Scorpio Tankers

Several large investors have recently added to or reduced their stakes in the company. Boston Partners lifted its stake in Scorpio Tankers by 112.0% during the first quarter. Boston Partners now owns 50,039 shares of the shipping company’s stock worth $3,580,000 after purchasing an additional 26,438 shares during the last quarter. Cetera Investment Advisers bought a new stake in Scorpio Tankers in the first quarter valued at $2,107,000. EMC Capital Management bought a new stake in Scorpio Tankers in the first quarter valued at $194,000. Tidal Investments LLC lifted its stake in Scorpio Tankers by 17.7% in the first quarter. Tidal Investments LLC now owns 33,504 shares of the shipping company’s stock valued at $2,397,000 after buying an additional 5,038 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Scorpio Tankers by 2.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 330,555 shares of the shipping company’s stock valued at $23,651,000 after buying an additional 9,207 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

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.