Stifel Nicolaus Issues Pessimistic Forecast for Scorpio Tankers (NYSE:STNG) Stock Price

Scorpio Tankers (NYSE:STNG) had its price objective lowered by Stifel Nicolaus from $51.00 to $49.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the shipping company’s stock.

A number of other research analysts have also recently commented on STNG. Evercore ISI cut their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Thursday. Finally, Bank of America cut their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Trading Down 1.2 %

Shares of STNG opened at $44.13 on Friday. Scorpio Tankers has a twelve month low of $43.32 and a twelve month high of $84.67. The company has a market cap of $2.23 billion, a P/E ratio of 3.16 and a beta of 0.08. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $49.33 and its 200-day simple moving average is $59.71.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. As a group, analysts expect that Scorpio Tankers will post 9.88 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers’s payout ratio is 11.47%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. U S Global Investors Inc. grew its holdings in Scorpio Tankers by 4.4% during the 4th quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock worth $253,000 after acquiring an additional 215 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in Scorpio Tankers by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after acquiring an additional 252 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after acquiring an additional 263 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after acquiring an additional 266 shares in the last quarter. Finally, Chesapeake Capital Corp IL boosted its holdings in shares of Scorpio Tankers by 6.4% in the 3rd quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock valued at $419,000 after buying an additional 349 shares in the last quarter. 54.64% of the stock is currently 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.