Scorpio Tankers (NYSE:STNG) Rating Reiterated by Jefferies Financial Group

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Financial Group in a note issued to investors on Thursday, Benzinga reports. They presently have a $90.00 price target on the shipping company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 18.30% from the company’s current price.

Several other equities research analysts also recently weighed in on STNG. JPMorgan Chase & Co. increased their price target on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Evercore ISI increased their price target on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Moderate Buy” and an average target price of $74.00.

Scorpio Tankers Trading Up 0.9 %

STNG stock traded up $0.65 during midday trading on Thursday, reaching $76.08. 175,245 shares of the company traded hands, compared to its average volume of 1,083,018. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. The business has a 50 day moving average of $70.78 and a 200-day moving average of $64.75. Scorpio Tankers has a 52-week low of $40.34 and a 52-week high of $77.69. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 1.27 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, topping 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 firm had revenue of $336.30 million for the quarter, compared to the consensus estimate of $335.70 million. During the same period in the prior year, the business posted $4.24 earnings per share. The company’s revenue for the quarter was down 31.9% on a year-over-year basis. As a group, sell-side analysts expect that Scorpio Tankers will post 12.25 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Foundry Partners LLC raised its position in shares of Scorpio Tankers by 11.6% in the 1st quarter. Foundry Partners LLC now owns 102,594 shares of the shipping company’s stock worth $7,341,000 after acquiring an additional 10,704 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Scorpio Tankers by 4.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 14,742 shares of the shipping company’s stock worth $1,055,000 after purchasing an additional 640 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Scorpio Tankers by 8.8% in the first quarter. Bleakley Financial Group LLC now owns 8,908 shares of the shipping company’s stock worth $637,000 after purchasing an additional 717 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Scorpio Tankers by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,587 shares of the shipping company’s stock valued at $614,000 after buying an additional 676 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Scorpio Tankers by 6.9% in the 1st quarter. Russell Investments Group Ltd. now owns 152,794 shares of the shipping company’s stock valued at $10,932,000 after buying an additional 9,913 shares in the last quarter. 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.