Weekly Analysts’ Ratings Changes for Scorpio Tankers (STNG)

A number of firms have modified their ratings and price targets on shares of Scorpio Tankers (NYSE: STNG) recently:

• 10/30/2024 – Scorpio Tankers had its price target lowered by analysts at Evercore ISI from $84.00 to $80.00. They now have an “outperform” rating on the stock.
• 10/29/2024 – Scorpio Tankers had its “buy” rating reaffirmed by analysts at Jefferies Financial Group Inc.. They now have a $90.00 price target on the stock.
• 10/23/2024 – Scorpio Tankers was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $65.00 price target on the stock, down previously from $90.00.
• 10/22/2024 – Scorpio Tankers had its price target lowered by analysts at Bank of America Co. from $73.00 to $71.00. They now have a “neutral” rating on the stock.
• 9/27/2024 – Scorpio Tankers was upgraded by analysts at Fearnley Fonds to a “hold” rating.

Scorpio Tankers Stock Down 2.8 %

Shares of NYSE:STNG traded down $1.53 during trading on Tuesday, reaching $53.04. The stock had a trading volume of 356,195 shares, compared to its average volume of 916,480. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers Inc. has a one year low of $52.68 and a one year high of $84.67. The company has a market capitalization of $2.68 billion, a P/E ratio of 3.80 and a beta of 0.18. The firm’s 50-day simple moving average is $66.31 and its 200 day simple moving average is $73.20.

Scorpio Tankers (NYSE:STNG) last issued its quarterly 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. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 EPS. As a group, research analysts expect that Scorpio Tankers Inc. will post 11.13 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

Hedge Funds Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently modified their holdings of STNG. Janney Montgomery Scott LLC acquired a new stake in shares of Scorpio Tankers during the first quarter valued at about $596,000. Acadian Asset Management LLC increased its position in shares of Scorpio Tankers by 101.4% during the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company’s stock valued at $1,391,000 after acquiring an additional 9,798 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Scorpio Tankers during the first quarter valued at about $2,107,000. Price T Rowe Associates Inc. MD increased its position in shares of Scorpio Tankers by 354.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company’s stock valued at $3,896,000 after acquiring an additional 42,451 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Scorpio Tankers in the second quarter valued at approximately $1,098,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.