Analysts Set Scorpio Tankers Inc. (NYSE:STNG) PT at $74.00

Scorpio Tankers Inc. (NYSE:STNG) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $74.00.

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Wednesday, February 14th. Evercore ISI lifted their target price on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Moody Aldrich Partners LLC increased its stake in shares of Scorpio Tankers by 34.6% in the fourth quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company’s stock valued at $7,490,000 after buying an additional 31,649 shares during the period. DNB Asset Management AS increased its stake in shares of Scorpio Tankers by 167.0% in the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company’s stock valued at $15,494,000 after buying an additional 159,393 shares during the period. International Assets Investment Management LLC increased its stake in shares of Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock valued at $59,025,000 after buying an additional 950,600 shares during the period. Hosking Partners LLP increased its stake in shares of Scorpio Tankers by 3.1% in the third quarter. Hosking Partners LLP now owns 335,949 shares of the shipping company’s stock valued at $18,182,000 after buying an additional 10,232 shares during the period. Finally, LSV Asset Management acquired a new position in shares of Scorpio Tankers in the third quarter valued at approximately $4,844,000. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 0.5 %

Shares of Scorpio Tankers stock opened at $70.59 on Tuesday. The business has a fifty day simple moving average of $69.41 and a two-hundred day simple moving average of $62.72. Scorpio Tankers has a 1 year low of $40.34 and a 1 year high of $74.04. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 7.10 and a beta of 0.21. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.13 and a quick ratio of 1.12.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The business had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. During the same quarter last year, the firm posted $4.24 EPS. The company’s quarterly revenue was down 31.9% on a year-over-year basis. Research analysts forecast that Scorpio Tankers will post 12.3 EPS for the current year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s dividend payout ratio (DPR) is presently 16.10%.

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.