Scorpio Tankers (NYSE:STNG) Sets New 12-Month Low – Time to Sell?

Scorpio Tankers Inc. (NYSE:STNG)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $45.43 and last traded at $45.86, with a volume of 170599 shares trading hands. The stock had previously closed at $47.72.

Wall Street Analyst Weigh In

A number of research firms have recently commented on STNG. Bank of America lowered their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Jefferies Financial Group dropped their target price on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Evercore ISI decreased their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $75.40.

Scorpio Tankers Price Performance

The stock has a market cap of $2.35 billion, a PE ratio of 3.34 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm’s 50 day moving average price is $50.60 and its two-hundred day moving average price is $62.58.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. During the same quarter in the previous year, the firm posted $1.91 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, research analysts expect that Scorpio Tankers Inc. will post 10.88 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.44%. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers in the 3rd quarter valued at $28,000. GAMMA Investing LLC grew its position in shares of Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Quarry LP increased its holdings in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after buying an additional 177 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

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.