Scorpio Tankers (NYSE:STNG) Rating Reiterated by Jefferies Financial Group

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating restated by investment analysts at Jefferies Financial Group in a research note issued to investors on Thursday, Benzinga reports. They currently have a $90.00 target price on the shipping company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 18.30% from the company’s current price.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Evercore ISI raised their target price on Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

Scorpio Tankers Stock Up 0.9 %

Shares of STNG stock traded up $0.65 during trading hours on Thursday, hitting $76.08. 175,245 shares of the company were exchanged, compared to its average volume of 1,083,018. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 1.27 and a beta of 0.18. The business’s 50-day simple moving average is $70.78 and its two-hundred day simple moving average is $64.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. Scorpio Tankers has a one year low of $40.34 and a one year high of $77.69.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. The business had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The company’s revenue for the quarter was down 31.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.24 EPS. Sell-side analysts predict that Scorpio Tankers will post 12.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently modified their holdings of the company. Moody Aldrich Partners LLC boosted its stake in Scorpio Tankers by 34.6% during the fourth quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company’s stock valued at $7,490,000 after buying an additional 31,649 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Scorpio Tankers by 4,706.2% during the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after buying an additional 950,600 shares in the last quarter. DNB Asset Management AS grew its position in Scorpio Tankers by 167.0% in the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company’s stock worth $15,494,000 after buying an additional 159,393 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Scorpio Tankers in the fourth quarter valued at $3,772,000. Finally, Hosking Partners LLP lifted its position in shares of Scorpio Tankers by 3.1% during the 3rd quarter. Hosking Partners LLP now owns 335,949 shares of the shipping company’s stock valued at $18,182,000 after acquiring an additional 10,232 shares during the last quarter. 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.