Scorpio Tankers (NYSE:STNG) Hits New 1-Year Low – Should You Sell?

Scorpio Tankers Inc. (NYSE:STNG)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $40.73 and last traded at $41.99, with a volume of 1047222 shares. The stock had previously closed at $41.23.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STNG shares. Stifel Nicolaus decreased their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Finally, Evercore ISI lowered their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The firm’s 50 day moving average is $48.42 and its 200-day moving average is $57.79. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 3.03 and a beta of 0.08.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. Sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in STNG. Harbor Capital Advisors Inc. acquired a new position in shares of Scorpio Tankers during the third quarter valued at about $28,000. GAMMA Investing LLC raised its position in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after buying an additional 402 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after buying an additional 263 shares during the last quarter. Covestor Ltd increased its stake in Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after acquiring an additional 770 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 266 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

About Scorpio Tankers

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.