Scorpio Tankers (NYSE:STNG) PT Raised to $86.00 at Stifel Nicolaus

Scorpio Tankers (NYSE:STNG) had its price objective upped by Stifel Nicolaus from $84.00 to $86.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ target price points to a potential upside of 17.07% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. StockNews.com upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Evercore ISI upped their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 9th. Finally, Bank of America dropped their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

Scorpio Tankers Price Performance

Shares of STNG opened at $73.46 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. Scorpio Tankers has a fifty-two week low of $42.09 and a fifty-two week high of $84.67. The company has a market cap of $4.01 billion, a P/E ratio of 6.81, a PEG ratio of 1.15 and a beta of 0.16. The firm’s 50 day moving average price is $79.85 and its 200 day moving average price is $73.17.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. The business had revenue of $389.76 million during the quarter, compared to analysts’ expectations of $381.46 million. On average, research analysts forecast that Scorpio Tankers will post 13.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. boosted its holdings in Scorpio Tankers by 0.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock valued at $1,379,000 after purchasing an additional 150 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Scorpio Tankers by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock valued at $811,000 after buying an additional 171 shares during the period. U S Global Investors Inc. lifted its holdings in shares of Scorpio Tankers by 14.5% in the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after buying an additional 220 shares during the period. AlphaMark Advisors LLC boosted its stake in shares of Scorpio Tankers by 5.9% in the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock valued at $358,000 after buying an additional 281 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Scorpio Tankers by 319.0% during 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 period. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.