Scorpio Tankers Inc. (NYSE:STNG) Receives $88.80 Consensus Price Target from Analysts

Scorpio Tankers Inc. (NYSE:STNG) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $88.80.

STNG has been the topic of several recent research reports. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Bank of America reduced their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Jefferies Financial Group restated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Evercore ISI lifted their target price on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus increased their price target on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $72.94 on Tuesday. The company has a market cap of $3.98 billion, a P/E ratio of 6.77, a PEG ratio of 2.00 and a beta of 0.15. The business has a 50 day moving average of $71.41 and a two-hundred day moving average of $74.64. Scorpio Tankers has a 52 week low of $49.11 and a 52 week high of $84.67. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Scorpio Tankers (NYSE:STNG) last issued 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. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. During the same period in the prior year, the business earned $2.41 EPS. The firm’s revenue was up 15.6% on a year-over-year basis. As a group, analysts anticipate that Scorpio Tankers will post 12.71 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Thursday, August 15th. Scorpio Tankers’s payout ratio is currently 14.84%.

Institutional Trading of Scorpio Tankers

Several institutional investors have recently modified their holdings of the company. Bluefin Capital Management LLC bought a new stake in Scorpio Tankers in the fourth quarter worth about $1,003,000. Janney Montgomery Scott LLC acquired a new stake in Scorpio Tankers during the first quarter valued at approximately $596,000. BNP Paribas Financial Markets boosted its holdings in Scorpio Tankers by 37.0% during the first quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock worth $6,356,000 after buying an additional 23,975 shares in the last quarter. Twin Focus Capital Partners LLC bought a new position in shares of Scorpio Tankers in the fourth quarter valued at $5,115,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Scorpio Tankers by 101.4% in the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company’s stock valued at $1,391,000 after buying an additional 9,798 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

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.