Scorpio Tankers Inc. (NYSE:STNG) Receives $69.20 Consensus Target Price from Analysts

Scorpio Tankers Inc. (NYSE:STNG) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $69.20.

A number of research analysts have weighed in on STNG shares. Evercore ISI set a $80.00 price target on shares of Scorpio Tankers and gave the company an “outperform” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Scorpio Tankers in a research note on Monday, December 15th. Jefferies Financial Group restated a “buy” rating and set a $70.00 target price on shares of Scorpio Tankers in a report on Thursday, October 30th. Zacks Research downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Finally, B. Riley reissued a “buy” rating and issued a $80.00 price objective (up from $75.00) on shares of Scorpio Tankers in a research report on Thursday, October 16th.

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. grew its position in Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 246 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of Scorpio Tankers by 67.9% during the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after purchasing an additional 205 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 330 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Scorpio Tankers by 143.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 460 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Scorpio Tankers by 206.1% during the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 575 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of NYSE:STNG opened at $51.43 on Thursday. The business has a 50-day moving average of $57.73 and a two-hundred day moving average of $52.05. The firm has a market capitalization of $2.62 billion, a PE ratio of 8.70 and a beta of -0.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.81 and a quick ratio of 4.75. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $65.52.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, October 30th. The shipping company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.10. The business had revenue of $232.92 million for the quarter, compared to analyst estimates of $228.09 million. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The company’s revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.75 EPS. As a group, research analysts forecast that Scorpio Tankers will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, November 14th. Scorpio Tankers’s payout ratio is 28.43%.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.