Scorpio Tankers (NYSE:STNG) PT Lowered to $71.00 at Bank of America

Scorpio Tankers (NYSE:STNG) had its price target dropped by stock analysts at Bank of America from $73.00 to $71.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the shipping company’s stock. Bank of America‘s price target suggests a potential upside of 9.08% from the company’s current price.

STNG has been the topic of several other reports. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, July 30th. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Evercore ISI boosted their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus increased their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Scorpio Tankers currently has an average rating of “Moderate Buy” and a consensus target price of $86.60.

Scorpio Tankers Price Performance

Scorpio Tankers stock traded down $1.47 during midday trading on Tuesday, reaching $65.09. 314,928 shares of the stock traded hands, compared to its average volume of 902,337. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock has a market cap of $3.46 billion, a P/E ratio of 5.12, a PEG ratio of 1.87 and a beta of 0.15. Scorpio Tankers has a 12 month low of $52.68 and a 12 month high of $84.67. The stock’s fifty day moving average is $70.22 and its 200-day moving average is $74.44.

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

Institutional Trading of Scorpio Tankers

Institutional investors and hedge funds have recently made changes to their positions in the business. U S Global Investors Inc. increased its stake in Scorpio Tankers by 172.6% in the 3rd quarter. U S Global Investors Inc. now owns 4,877 shares of the shipping company’s stock worth $348,000 after buying an additional 3,088 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Scorpio Tankers by 16.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 32,903 shares of the shipping company’s stock worth $2,346,000 after acquiring an additional 4,564 shares in the last quarter. Blue Trust Inc. increased its position in shares of Scorpio Tankers by 191.0% during the third quarter. Blue Trust Inc. now owns 3,277 shares of the shipping company’s stock worth $234,000 after acquiring an additional 2,151 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Scorpio Tankers during the third quarter valued at approximately $316,000. Finally, SG Americas Securities LLC raised its stake in shares of Scorpio Tankers by 34.8% during the third quarter. SG Americas Securities LLC now owns 1,777 shares of the shipping company’s stock valued at $127,000 after acquiring an additional 459 shares in the last quarter. 54.64% of the stock is currently owned by 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.