Scorpio Tankers (NYSE:STNG) Price Target Lowered to $80.00 at Jefferies Financial Group

Scorpio Tankers (NYSE:STNG) had its price target trimmed by Jefferies Financial Group from $90.00 to $80.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the shipping company’s stock.

Other equities analysts have also recently issued reports about the company. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Bank of America dropped their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Evercore ISI dropped their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.40.

Scorpio Tankers Trading Down 1.3 %

NYSE:STNG traded down $0.72 on Thursday, reaching $54.25. 308,234 shares of the stock traded hands, compared to its average volume of 919,105. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 3.94 and a beta of 0.18. The company’s 50 day moving average is $65.72 and its 200-day moving average is $72.93. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers has a 1-year low of $52.68 and a 1-year high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. During the same period last year, the business earned $1.91 EPS. Scorpio Tankers’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Scorpio Tankers will post 11.13 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Institutional Trading of Scorpio Tankers

Large investors have recently bought and sold shares of the business. Melqart Asset Management UK Ltd boosted its stake in shares of Scorpio Tankers by 7.2% during the 3rd quarter. Melqart Asset Management UK Ltd now owns 118,998 shares of the shipping company’s stock worth $8,485,000 after purchasing an additional 8,014 shares during the last quarter. Mountaineer Partners Management LLC raised its stake in shares of Scorpio Tankers by 6,926.8% during the third 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 period. HighTower Advisors LLC increased its stake in shares of Scorpio Tankers by 38.1% in the third quarter. HighTower Advisors LLC now owns 12,041 shares of the shipping company’s stock worth $857,000 after buying an additional 3,322 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Scorpio Tankers in the third quarter worth $897,000. Finally, Edgestream Partners L.P. acquired a new position in Scorpio Tankers in the third quarter worth $5,006,000. Institutional investors and hedge funds 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.