Scorpio Tankers (NYSE:STNG) Raised to “Strong-Buy” at Wall Street Zen

Scorpio Tankers (NYSE:STNG) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other research firms have also issued reports on STNG. Jefferies Financial Group started coverage on shares of Scorpio Tankers in a research note on Friday, April 24th. They set a “buy” rating and a $90.00 target price for the company. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Dnb Carnegie lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Zacks Research raised shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Evercore set a $96.00 target price on shares of Scorpio Tankers in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.17.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $84.36 on Friday. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. Scorpio Tankers has a fifty-two week low of $37.96 and a fifty-two week high of $87.39. The firm has a 50-day simple moving average of $75.54 and a 200 day simple moving average of $65.12. The company has a market cap of $4.25 billion, a PE ratio of 8.29 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, May 5th. The shipping company reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $286.81 million. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Scorpio Tankers will post 11.44 EPS for the current year.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently made changes to their positions in STNG. SBI Securities Co. Ltd. lifted its stake in shares of Scorpio Tankers by 110.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after acquiring an additional 246 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Scorpio Tankers by 1,645.2% in the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after acquiring an additional 510 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Scorpio Tankers by 67.9% in the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after acquiring an additional 205 shares during the period. Assetmark Inc. acquired a new stake in shares of Scorpio Tankers in the 1st quarter worth approximately $28,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Scorpio Tankers in the 4th quarter worth approximately $29,000. 54.64% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Scorpio Tankers

Here are the key news stories impacting Scorpio Tankers this week:

• Positive Sentiment: Bank of America upgraded Scorpio Tankers to Buy and raised its price target to $100, citing expectations that tanker rates will remain elevated. Read More
• Positive Sentiment: BTIG increased its price target on Scorpio Tankers to $100, reinforcing a more bullish Wall Street outlook. Read More
• Positive Sentiment: Zacks said Scorpio Tankers is showing strong momentum characteristics and could continue higher as earnings estimates have been revised upward. Article Title
• Positive Sentiment: The stock was also added to Zacks’ Rank #1 Strong Buy momentum and income stock lists, which may attract additional investor interest. Article Title
• Neutral Sentiment: Scorpio Tankers announced a reopening of its 1.75% convertible notes due 2031, increasing the offering to $200 million from $150 million, while also planning to repurchase about 649,427 shares. The buyback could help offset dilution, but the new notes add leverage and potential future share issuance. Article Title

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.