Analysts Set Scorpio Tankers Inc. (NYSE:STNG) PT at $68.75

Scorpio Tankers Inc. (NYSE:STNG) has earned an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $68.75.

A number of analysts have issued reports on STNG shares. Stifel Nicolaus reduced their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th.

Scorpio Tankers Stock Performance

NYSE STNG opened at $37.60 on Tuesday. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. Scorpio Tankers has a twelve month low of $37.14 and a twelve month high of $84.67. The business has a 50-day moving average price of $42.95 and a 200-day moving average price of $52.66. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 2.88 and a beta of 0.01.

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

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Friday, March 7th. Scorpio Tankers’s dividend payout ratio is 12.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mountaineer Partners Management LLC lifted its stake in shares of Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. FMR LLC lifted its position in Scorpio Tankers by 266.2% in the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock worth $129,870,000 after buying an additional 1,899,981 shares during the last quarter. Cooper Creek Partners Management LLC boosted its stake in Scorpio Tankers by 380.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock worth $109,098,000 after buying an additional 1,738,190 shares during the period. Norges Bank bought a new position in Scorpio Tankers during the fourth quarter valued at $30,374,000. Finally, Vanguard Group Inc. raised its stake in shares of Scorpio Tankers by 22.3% in the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock valued at $124,786,000 after acquiring an additional 458,120 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.