Scorpio Tankers (NYSE:STNG) Downgraded to Hold at Stifel Nicolaus

Scorpio Tankers (NYSE:STNG) was downgraded by stock analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, FinViz reports. They presently have a $65.00 price objective on the shipping company’s stock, down from their previous price objective of $90.00. Stifel Nicolaus’ price objective would suggest a potential upside of 0.37% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Evercore ISI raised their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Bank of America lowered their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Finally, StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $82.40.

Scorpio Tankers Stock Down 2.7 %

Shares of STNG stock opened at $64.76 on Wednesday. Scorpio Tankers has a 52-week low of $52.68 and a 52-week high of $84.67. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 1.87 and a beta of 0.15. The firm’s 50-day moving average is $70.05 and its 200-day moving average is $74.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.41 earnings per share. Sell-side analysts predict that Scorpio Tankers will post 12.43 EPS for the current year.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management lifted its position in shares of Scorpio Tankers by 8.5% during the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock valued at $162,222,000 after acquiring an additional 156,414 shares during the period. International Assets Investment Management LLC lifted its position in shares of Scorpio Tankers by 8,249.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after acquiring an additional 1,857,668 shares during the period. Renaissance Technologies LLC lifted its position in shares of Scorpio Tankers by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock valued at $106,800,000 after acquiring an additional 62,600 shares during the period. American Century Companies Inc. lifted its position in shares of Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after acquiring an additional 199,858 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after acquiring an additional 549,395 shares during the period. 54.64% of the stock is owned by institutional investors.

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.