Scorpio Tankers (NYSE:STNG) Issues Earnings Results

Scorpio Tankers (NYSE:STNG) issued its earnings results on Wednesday. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08), Zacks reports. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%.

Scorpio Tankers Trading Down 0.5 %

STNG opened at $47.92 on Thursday. Scorpio Tankers has a 52 week low of $45.43 and a 52 week high of $84.67. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $49.52 and a 200-day simple moving average of $60.03. The firm has a market cap of $2.42 billion, a P/E ratio of 3.44 and a beta of 0.08.

Analysts Set New Price Targets

Several brokerages have recently weighed in on STNG. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price target for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Bank of America dropped their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Evercore ISI decreased their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $72.75.

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.