Scorpio Tankers (NYSE:STNG) Stock Rating Lowered by Stifel Nicolaus

Stifel Nicolaus downgraded shares of Scorpio Tankers (NYSE:STNG) from a buy rating to a hold rating in a research report released on Wednesday morning, Marketbeat reports. The firm currently has $65.00 price objective on the shipping company’s stock, down from their previous price objective of $90.00.

A number of other equities research analysts have also recently commented on STNG. Evercore ISI increased their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Bank of America decreased their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Hold” and an average target price of $82.40.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $61.58 on Wednesday. The stock’s 50 day moving average is $69.81 and its 200 day moving average is $74.30. The company has a market capitalization of $3.27 billion, a P/E ratio of 4.84, a PEG ratio of 1.87 and a beta of 0.15. Scorpio Tankers has a twelve month low of $52.68 and a twelve month high of $84.67. 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 (NYSE:STNG) last issued its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the company earned $2.41 earnings per share. On average, equities research analysts predict that Scorpio Tankers will post 12.43 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s payout ratio is 12.58%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STNG. AlphaMark Advisors LLC increased its stake in shares of Scorpio Tankers by 5.9% in the 1st quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock worth $358,000 after purchasing an additional 281 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Scorpio Tankers by 320.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,777 shares of the shipping company’s stock worth $628,000 after buying an additional 6,690 shares during the period. Norden Group LLC purchased a new position in shares of Scorpio Tankers during the 1st quarter valued at about $279,000. BNP Paribas Financial Markets grew its stake in shares of Scorpio Tankers by 37.0% during the 1st quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock valued at $6,356,000 after acquiring an additional 23,975 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Scorpio Tankers in the 1st quarter worth approximately $596,000. 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.