Brokerages Set Scorpio Tankers Inc. (NYSE:STNG) Target Price at $79.67

Scorpio Tankers Inc. (NYSE:STNG) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $79.6667.

STNG has been the topic of several recent research reports. Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a research note on Monday, March 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. B. Riley Financial restated a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Finally, Dnb Carnegie cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after buying an additional 1,144 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Scorpio Tankers by 9.4% in the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after acquiring an additional 2,802 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Scorpio Tankers by 34.6% during the 2nd quarter. Savant Capital LLC now owns 14,178 shares of the shipping company’s stock worth $555,000 after acquiring an additional 3,641 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Scorpio Tankers during the 2nd quarter worth $534,000. Finally, Allworth Financial LP boosted its position in shares of Scorpio Tankers by 1,954.8% during the 2nd quarter. Allworth Financial LP now owns 10,870 shares of the shipping company’s stock valued at $425,000 after acquiring an additional 10,341 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $68.46 on Tuesday. The stock has a market capitalization of $3.54 billion, a P/E ratio of 9.68 and a beta of -0.31. The business has a 50 day simple moving average of $66.61 and a two-hundred day simple moving average of $60.15. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $81.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.33 and a quick ratio of 9.23.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The firm had revenue of $252.65 million for the quarter, compared to analyst estimates of $238.93 million. During the same period in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. As a group, analysts predict that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s payout ratio is presently 25.46%.

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.