Scorpio Tankers (NYSE:STNG) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Scorpio Tankers (NYSE:STNG) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Evercore restated an “outperform” rating and issued a $98.00 price objective on shares of Scorpio Tankers in a report on Wednesday, May 27th. Dnb Carnegie downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Bank of America raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $76.00 to $100.00 in a research report on Thursday, May 7th. BTIG Research boosted their price objective on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Jefferies Financial Group assumed coverage on shares of Scorpio Tankers in a research report on Friday, April 24th. They set a “buy” rating and a $90.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.50.

Scorpio Tankers Stock Performance

Shares of STNG opened at $78.64 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87. Scorpio Tankers has a one year low of $38.83 and a one year high of $87.39. The company has a 50-day simple moving average of $78.47 and a two-hundred day simple moving average of $68.66. The firm has a market capitalization of $3.96 billion, a PE ratio of 7.73 and a beta of -0.26.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The business had revenue of $312.86 million during the quarter, compared to analyst estimates of $286.81 million. During the same period last year, the business posted $1.03 earnings per share. Scorpio Tankers’s quarterly revenue was up 46.2% compared to the same quarter last year. On average, analysts anticipate that Scorpio Tankers will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.45 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.80 annualized dividend and a yield of 2.3%. Scorpio Tankers’s payout ratio is presently 17.70%.

Institutional Trading of Scorpio Tankers

Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Scorpio Tankers by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock worth $233,544,000 after purchasing an additional 122,874 shares in the last quarter. American Century Companies Inc. lifted its stake in Scorpio Tankers by 7.6% in the 3rd quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after purchasing an additional 135,123 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Scorpio Tankers by 7.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after purchasing an additional 83,294 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Scorpio Tankers by 12.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock worth $62,166,000 after purchasing an additional 137,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Scorpio Tankers by 7.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock worth $68,555,000 after purchasing an additional 64,511 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.