Scorpio Tankers Inc. (NYSE:STNG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $93.50.

Several analysts have recently commented on the company. Evercore reaffirmed an “outperform” rating and issued a $98.00 target price on shares of Scorpio Tankers in a research report on Wednesday, May 27th. BTIG Research raised their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Bank of America raised Scorpio Tankers from an “underperform” rating to a “buy” rating and raised their target price for the stock from $76.00 to $100.00 in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. Finally, Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th.

Scorpio Tankers Stock Performance

Shares of Scorpio Tankers stock opened at $78.58 on Thursday. The stock has a market cap of $3.96 billion, a PE ratio of 7.73 and a beta of -0.26. The business has a fifty day simple moving average of $79.01 and a 200-day simple moving average of $69.66. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. Scorpio Tankers has a 12 month low of $38.83 and a 12 month high of $87.39.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.79 by $0.23. The business had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.Scorpio Tankers’s revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. On average, sell-side analysts anticipate that Scorpio Tankers will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 17.70%.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently bought and sold shares of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock valued at $996,000 after purchasing an additional 1,144 shares during the last quarter. Intech Investment Management LLC boosted its position in Scorpio Tankers by 9.4% during the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after purchasing an additional 2,802 shares during the last quarter. Legal & General Group Plc boosted its position in Scorpio Tankers by 11.2% during the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock valued at $391,000 after purchasing an additional 1,005 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Scorpio Tankers by 593.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after purchasing an additional 2,402 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Scorpio Tankers by 3.1% during the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock valued at $5,932,000 after purchasing an additional 4,618 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.