Jefferies Financial Group Cuts Scorpio Tankers (NYSE:STNG) Price Target to $80.00

Scorpio Tankers (NYSE:STNG) had its price target dropped by equities research analysts at Jefferies Financial Group from $90.00 to $80.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 48.92% from the company’s previous close.

Several other brokerages have also recently issued reports on STNG. Evercore ISI cut their price objective 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. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Bank of America decreased their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $76.40.

Scorpio Tankers Stock Down 2.3 %

Shares of NYSE:STNG opened at $53.72 on Thursday. The firm has a market cap of $2.71 billion, a PE ratio of 3.85 and a beta of 0.18. The company has a fifty day simple moving average of $65.18 and a 200 day simple moving average of $72.67. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers has a 12-month low of $52.68 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The company had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. During the same period last year, the business earned $1.91 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts anticipate that Scorpio Tankers will post 11.13 EPS for the current fiscal year.

Institutional Trading of Scorpio Tankers

Several hedge funds have recently bought and sold shares of STNG. EverSource Wealth Advisors LLC grew its position in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after purchasing an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Scorpio Tankers during the third quarter worth approximately $28,000. Fifth Third Bancorp grew its holdings in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares in the last quarter. Quarry LP increased its position in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its stake in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 177 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Company Profile

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.