Scorpio Tankers Inc. (NYSE:STNG) Given Average Rating of “Hold” by Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been given an average rating of “Hold” by the eleven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $88.7143.

Several research firms have recently commented on STNG. Bank of America cut Scorpio Tankers from a “buy” rating to an “underperform” rating and cut their price target for the stock from $100.00 to $78.00 in a research note on Tuesday, June 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. Morgan Stanley set a $82.00 price objective on shares of Scorpio Tankers and gave the company an “equal weight” rating in a research note on Thursday. BTIG Research upped their price objective on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Evercore restated an “outperform” rating and issued a $98.00 target price on shares of Scorpio Tankers in a research note on Wednesday, May 27th.

Institutional Trading of Scorpio Tankers

Several institutional investors and hedge funds have recently modified their holdings of STNG. Global Retirement Partners LLC lifted its stake in Scorpio Tankers by 1,645.2% in the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after buying an additional 510 shares in the last quarter. Assetmark Inc. acquired a new stake in Scorpio Tankers during the 1st quarter valued at $28,000. Zions Bancorporation National Association UT purchased a new position in Scorpio Tankers during the fourth quarter worth $29,000. Smartleaf Asset Management LLC increased its position in Scorpio Tankers by 154.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock worth $33,000 after buying an additional 392 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Scorpio Tankers in the third quarter worth $36,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.0%

STNG stock opened at $79.30 on Monday. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. Scorpio Tankers has a twelve month low of $42.20 and a twelve month high of $87.39. The company’s 50 day moving average is $78.23 and its two-hundred day moving average is $71.42. The stock has a market cap of $4.00 billion, a P/E ratio of 7.80 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.23. The business had revenue of $312.86 million for the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The business’s revenue was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Research analysts expect that Scorpio Tankers will post 13.07 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.80 annualized dividend and a yield of 2.3%. Scorpio Tankers’s payout ratio is currently 17.70%.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.