Scorpio Tankers Inc. (NYSE:STNG) has been given an average recommendation of “Buy” by the eight analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $35.67.
A number of research firms have commented on STNG. B. Riley set a $40.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Jefferies Financial Group set a $40.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a research note on Friday, June 28th. Stifel Nicolaus lifted their price objective on shares of Scorpio Tankers from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, BTIG Research set a $38.00 target price on Scorpio Tankers and gave the company a “buy” rating in a report on Tuesday, July 2nd.
Institutional investors and hedge funds have recently modified their holdings of the company. Rubric Capital Management LP bought a new position in Scorpio Tankers during the first quarter valued at about $9,920,000. Nuveen Asset Management LLC bought a new stake in shares of Scorpio Tankers during the second quarter worth approximately $13,497,000. Waddell & Reed Financial Inc. bought a new position in Scorpio Tankers in the second quarter valued at approximately $11,117,000. Prudential Financial Inc. bought a new position in Scorpio Tankers in the second quarter valued at approximately $6,330,000. Finally, Renaissance Technologies LLC grew its holdings in Scorpio Tankers by 76.3% during the 2nd quarter. Renaissance Technologies LLC now owns 413,320 shares of the shipping company’s stock worth $12,201,000 after acquiring an additional 178,900 shares during the period. Institutional investors own 57.24% of the company’s stock.
Scorpio Tankers stock traded down $0.34 during midday trading on Friday, reaching $30.21. 33,508 shares of the stock traded hands, compared to its average volume of 463,066. The stock has a market cap of $1.58 billion, a P/E ratio of -6.61 and a beta of 1.05. The stock’s fifty day moving average is $26.02 and its 200-day moving average is $24.71. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 1.31. Scorpio Tankers has a 12 month low of $14.75 and a 12 month high of $30.97.
Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, July 31st. The shipping company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.09. Scorpio Tankers had a negative net margin of 16.52% and a negative return on equity of 5.50%. The firm had revenue of $150.80 million during the quarter, compared to analyst estimates of $148.88 million. During the same period last year, the firm posted ($0.15) earnings per share. Scorpio Tankers’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts predict that Scorpio Tankers will post -0.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.40 annualized dividend and a yield of 1.32%. Scorpio Tankers’s dividend payout ratio (DPR) is presently -8.77%.
About Scorpio Tankers
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.
Further Reading: Earnings Reports
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