Scorpio Tankers (NYSE:STNG) Given New $71.00 Price Target at Bank of America

Scorpio Tankers (NYSE:STNG) had its price objective lowered by Bank of America from $73.00 to $71.00 in a research report sent to investors on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the shipping company’s stock.

A number of other equities analysts also recently commented on STNG. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday, July 30th. Evercore ISI raised their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Stifel Nicolaus upped 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. Finally, Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.40.

Scorpio Tankers Trading Down 0.4 %

Scorpio Tankers stock opened at $61.33 on Tuesday. The business has a 50 day moving average price of $69.55 and a two-hundred day moving average price of $74.21. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Scorpio Tankers has a 12 month low of $52.68 and a 12 month high of $84.67. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 5.69, a price-to-earnings-growth ratio of 1.81 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business had revenue of $380.70 million during the quarter, compared to analyst estimates of $368.62 million. During the same period in the prior year, the company posted $2.41 earnings per share. Scorpio Tankers’s revenue was up 15.6% on a year-over-year basis. As a group, equities analysts forecast that Scorpio Tankers will post 12.43 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 annualized dividend and a yield of 2.61%. Scorpio Tankers’s payout ratio is 14.84%.

Institutional Trading of Scorpio Tankers

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after buying an additional 291 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after acquiring an additional 319 shares during the last quarter. Quarry LP lifted its position in shares of Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Scorpio Tankers in the first quarter valued at approximately $58,000. 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.