Scorpio Tankers (NYSE:STNG) Stock Rating Lowered by Stifel Nicolaus

Scorpio Tankers (NYSE:STNG) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a $65.00 price target on the shipping company’s stock, down from their prior price target of $90.00. Stifel Nicolaus’ target price indicates a potential upside of 5.98% from the stock’s current price.

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

Scorpio Tankers Price Performance

Shares of STNG opened at $61.33 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The company’s fifty day moving average price is $69.55 and its 200-day moving average price is $74.21. Scorpio Tankers has a 1-year low of $52.68 and a 1-year high of $84.67. The firm has a market capitalization of $3.35 billion, a PE ratio of 5.69, a price-to-earnings-growth ratio of 1.81 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same quarter in the previous year, the business earned $2.41 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. On average, equities research analysts predict that Scorpio Tankers will post 12.43 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in STNG. EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the period. Fifth Third Bancorp increased its stake in shares of 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 purchasing an additional 319 shares in the last quarter. Quarry LP increased its stake in shares of Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of Scorpio Tankers by 34.2% during the 2nd 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 last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Scorpio Tankers in the 1st quarter valued at about $58,000. 54.64% of the stock is owned by institutional investors and hedge funds.

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.