Jefferies Financial Group Reiterates Buy Rating for Scorpio Tankers (NYSE:STNG)

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Financial Group in a research report issued on Tuesday, Benzinga reports. They currently have a $90.00 price target on the shipping company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 16.37% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus boosted their price target on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI increased their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Finally, Bank of America lowered their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.17.

Scorpio Tankers Trading Up 3.8 %

Shares of NYSE:STNG traded up $2.86 during midday trading on Tuesday, reaching $77.34. The company’s stock had a trading volume of 473,143 shares, compared to its average volume of 970,618. Scorpio Tankers has a 1 year low of $45.95 and a 1 year high of $84.67. The business has a 50 day moving average price of $79.36 and a 200 day moving average price of $73.46. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of 1.12 and a beta of 0.16.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.25. The firm had revenue of $389.76 million during the quarter, compared to the consensus estimate of $381.46 million. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. Research analysts forecast that Scorpio Tankers will post 13.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STNG. Epoch Investment Partners Inc. grew its stake in Scorpio Tankers by 0.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock valued at $1,379,000 after purchasing an additional 150 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Scorpio Tankers by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock worth $811,000 after buying an additional 171 shares during the last quarter. U S Global Investors Inc. increased its stake in shares of Scorpio Tankers by 14.5% in the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after buying an additional 220 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in Scorpio Tankers by 5.9% in the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock valued at $358,000 after acquiring an additional 281 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 319 shares during the last quarter. 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.