Jefferies Financial Group Has Lowered Expectations for Scorpio Tankers (NYSE:STNG) Stock Price

Scorpio Tankers (NYSE:STNG) had its target price lowered by equities researchers at Jefferies Financial Group from $90.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 48.92% from the company’s current price.

Several other analysts have also recently commented on the stock. Bank of America lowered their target price 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 lowered their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four equities 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 company has an average rating of “Hold” and a consensus price target of $76.40.

Scorpio Tankers Stock Down 2.3 %

Shares of NYSE:STNG opened at $53.72 on Thursday. 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 company has a market capitalization of $2.71 billion, a P/E ratio of 3.85 and a beta of 0.18. Scorpio Tankers has a 52-week low of $52.68 and a 52-week high of $84.67. The stock’s fifty day simple moving average is $65.18 and its 200-day simple moving average is $72.67.

Scorpio Tankers (NYSE:STNG) last released 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 company 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%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 EPS. As a group, equities research analysts forecast that Scorpio Tankers will post 11.13 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC boosted its holdings in Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after acquiring an additional 8,252,691 shares during the period. LSV Asset Management boosted its stake in shares of Scorpio Tankers by 8.5% in the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock valued at $162,222,000 after purchasing an additional 156,414 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after purchasing an additional 1,857,668 shares during the period. Renaissance Technologies LLC grew its holdings in Scorpio Tankers by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock valued at $106,800,000 after purchasing an additional 62,600 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after buying an additional 199,858 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.