Scorpio Tankers Inc. (NYSE:STNG – Get Free Report) has earned a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $93.50.
A number of equities analysts recently issued reports on the company. BTIG Research boosted their price objective on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Evercore reiterated an “outperform” rating and issued a $98.00 target price on shares of Scorpio Tankers in a report on Wednesday, May 27th. Dnb Carnegie cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Wall Street Zen cut Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Bank of America upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and upped their target price for the stock from $76.00 to $100.00 in a report on Thursday, May 7th.
View Our Latest Stock Analysis on STNG
Scorpio Tankers Stock Performance
Scorpio Tankers (NYSE:STNG – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (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 the consensus estimate of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The company’s revenue was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. As a group, equities analysts anticipate that Scorpio Tankers will post 11.44 earnings per share for the current fiscal year.
Scorpio Tankers Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, May 29th. Scorpio Tankers’s dividend payout ratio is currently 17.70%.
Institutional Investors Weigh In On Scorpio Tankers
Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 122,874 shares during the period. American Century Companies Inc. lifted its holdings in shares of 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 buying an additional 135,123 shares during the period. Victory Capital Management Inc. raised its position in shares of 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 acquiring an additional 83,294 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of 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 acquiring an additional 137,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of 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 acquiring an additional 64,511 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.
Scorpio Tankers Company Profile
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.
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