Scorpio Tankers (NYSE:STNG) Earns Hold (C) Rating from Weiss Ratings

Scorpio Tankers (NYSE:STNG)‘s stock had its “hold (c)” rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

STNG has been the subject of a number of other research reports. Bank of America upped their target price on Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. B. Riley restated a “buy” rating and set a $80.00 target price (up previously from $75.00) on shares of Scorpio Tankers in a report on Thursday, October 16th. Jefferies Financial Group upped their target price on Scorpio Tankers from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Finally, Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.40.

Scorpio Tankers Stock Up 0.2%

Shares of NYSE:STNG opened at $60.47 on Friday. Scorpio Tankers has a 52-week low of $30.63 and a 52-week high of $62.90. The stock has a market cap of $3.09 billion, a P/E ratio of 8.24 and a beta of 0.01. The business’s 50 day moving average is $54.98 and its 200 day moving average is $45.92. The company has a quick ratio of 4.83, a current ratio of 4.95 and a debt-to-equity ratio of 0.28.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.38. The company had revenue of $222.76 million for the quarter, compared to analysts’ expectations of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.Scorpio Tankers’s revenue was down 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.60 earnings per share. Sell-side analysts predict that Scorpio Tankers will post 5.29 EPS for the current year.

Hedge Funds Weigh In On Scorpio Tankers

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its position in shares of Scorpio Tankers by 25.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 245 shares during the period. GAMMA Investing LLC increased its position in shares of Scorpio Tankers by 30.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 263 shares during the period. Advisors Asset Management Inc. increased its position in shares of Scorpio Tankers by 5.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 5,953 shares of the shipping company’s stock valued at $233,000 after acquiring an additional 306 shares during the period. Spire Wealth Management increased its position in shares of Scorpio Tankers by 77.1% in the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 330 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Scorpio Tankers by 61.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock valued at $36,000 after acquiring an additional 350 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

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.