Scorpio Tankers (NYSE:STNG) Price Target Lowered to $75.00 at Jefferies Financial Group

Scorpio Tankers (NYSE:STNG) had its price objective lowered by Jefferies Financial Group from $80.00 to $75.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the shipping company’s stock.

Several other brokerages also recently commented on STNG. Evercore ISI dropped their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Bank of America dropped their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $75.40.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $48.31 on Thursday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 3.46 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a 50 day simple moving average of $57.53 and a 200 day simple moving average of $68.89. Scorpio Tankers has a one year low of $46.66 and a one year high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 EPS. Research analysts predict that Scorpio Tankers will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers during the third quarter worth $28,000. Fifth Third Bancorp raised its stake in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares during the last quarter. Quarry LP grew its holdings in Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its holdings in Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares during the period. Institutional investors 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.