Scorpio Tankers (NYSE:STNG) Sets New 1-Year Low – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week low during trading on Wednesday . The company traded as low as $50.13 and last traded at $51.39, with a volume of 78508 shares trading hands. The stock had previously closed at $51.21.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group dropped their price target on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Evercore ISI cut their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.40.

Scorpio Tankers Stock Performance

The company has a market cap of $2.57 billion, a price-to-earnings ratio of 3.67 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a fifty day simple moving average of $63.14 and a 200 day simple moving average of $71.69.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers’s revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $1.91 EPS. On average, sell-side analysts expect that Scorpio Tankers Inc. will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.15%. Scorpio Tankers’s payout ratio is presently 11.47%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Scorpio Tankers by 176.6% in the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after purchasing an additional 549,395 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Scorpio Tankers by 354.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company’s stock valued at $3,896,000 after acquiring an additional 42,451 shares during the period. Tidal Investments LLC raised its holdings in Scorpio Tankers by 17.7% in the 1st quarter. Tidal Investments LLC now owns 33,504 shares of the shipping company’s stock valued at $2,397,000 after acquiring an additional 5,038 shares in the last quarter. EMC Capital Management bought a new stake in shares of Scorpio Tankers in the 1st quarter worth approximately $194,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $2,107,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.