Stifel Nicolaus Issues Pessimistic Forecast for Scorpio Tankers (NYSE:STNG) Stock Price

Scorpio Tankers (NYSE:STNG) had its price target dropped by analysts at Stifel Nicolaus from $51.00 to $49.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the shipping company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 11.03% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday. Evercore ISI dropped their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Trading Down 1.2 %

Shares of Scorpio Tankers stock opened at $44.13 on Friday. Scorpio Tankers has a 12-month low of $43.32 and a 12-month high of $84.67. The stock has a market cap of $2.23 billion, a P/E ratio of 3.16 and a beta of 0.08. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $49.33 and its 200-day moving average is $59.59.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Equities research analysts predict that Scorpio Tankers will post 9.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STNG. Harbor Capital Advisors Inc. acquired a new position in Scorpio Tankers in the 3rd quarter valued at $28,000. GAMMA Investing LLC grew its holdings in Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after buying an additional 402 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after buying an additional 263 shares in the last quarter. Covestor Ltd grew its holdings in Scorpio Tankers by 1,375.0% in the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after buying an additional 770 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after buying an additional 266 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

About Scorpio Tankers

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.