Scorpio Tankers Inc. (NYSE:STNG)’s share price hit a new 52-week low on Monday after Jefferies Financial Group lowered their price target on the stock from $26.00 to $20.00. Jefferies Financial Group currently has a buy rating on the stock. Scorpio Tankers traded as low as $10.03 and last traded at $10.28, with a volume of 41865 shares. The stock had previously closed at $10.71.
Several other research firms have also commented on STNG. Deutsche Bank Aktiengesellschaft reduced their price target on Scorpio Tankers from $42.00 to $27.00 in a report on Tuesday, July 28th. Stifel Nicolaus cut their target price on Scorpio Tankers from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, October 19th. Bank of America lowered their price target on Scorpio Tankers from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, September 10th. Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 21st. Finally, ValuEngine lowered Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gradient Investments LLC purchased a new stake in Scorpio Tankers during the 3rd quarter worth about $28,000. Private Advisor Group LLC acquired a new position in Scorpio Tankers during the second quarter worth approximately $32,000. Point72 Hong Kong Ltd purchased a new stake in Scorpio Tankers in the second quarter valued at approximately $35,000. Advisor Group Holdings Inc. acquired a new stake in shares of Scorpio Tankers in the first quarter valued at approximately $72,000. Finally, Cipher Capital LP purchased a new position in shares of Scorpio Tankers during the second quarter worth approximately $140,000. 48.39% of the stock is owned by hedge funds and other institutional investors.
The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.99. The stock has a market cap of $628.36 million, a price-to-earnings ratio of 4.28, a PEG ratio of 0.06 and a beta of 0.90. The stock’s 50 day moving average is $11.69 and its two-hundred day moving average is $14.78.
Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, August 6th. The shipping company reported $2.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.03. The firm had revenue of $346.24 million for the quarter, compared to analyst estimates of $349.58 million. Scorpio Tankers had a return on equity of 7.80% and a net margin of 16.42%. The business’s revenue was up 129.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.62) earnings per share. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 3.55 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Wednesday, September 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend was Tuesday, September 8th. Scorpio Tankers’s dividend payout ratio (DPR) is presently -42.55%.
About Scorpio Tankers (NYSE:STNG)
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 27, 2020, it owned, finance leased, or bareboat chartered 137 product tankers, which included 42 LR2, 12 LR1, 62 MR, and 21 Handymax tankers with an average age of approximately 4.4 years.
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