Scorpio Tankers Inc. (NYSE:STNG) Receives $68.75 Average Price Target from Analysts

Scorpio Tankers Inc. (NYSE:STNG) has been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $68.75.

Several brokerages have weighed in on STNG. Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group restated a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th.

Scorpio Tankers Price Performance

Shares of STNG opened at $39.90 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The company has a market cap of $2.02 billion, a P/E ratio of 3.06 and a beta of 0.01. Scorpio Tankers has a 12 month low of $38.03 and a 12 month high of $84.67. The stock has a fifty day moving average price of $47.49 and a 200 day moving average price of $56.59.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. On average, research analysts forecast that Scorpio Tankers will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.01%. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers during the third quarter valued at about $28,000. GAMMA Investing LLC lifted 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 worth $30,000 after purchasing an additional 402 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 263 shares during the period. Covestor Ltd boosted its stake in Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 770 shares during the period. Finally, AM Squared Ltd acquired a new stake in Scorpio Tankers in the 3rd quarter valued at approximately $64,000. Institutional investors 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.