Scorpio Tankers (NYSE:STNG) Reaches New 1-Year Low – Here’s Why

Scorpio Tankers Inc. (NYSE:STNG) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $50.13 and last traded at $51.39, with a volume of 78508 shares trading hands. The stock had previously closed at $51.21.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STNG. Jefferies Financial Group cut their price objective on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Evercore ISI reduced their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $76.40.

Scorpio Tankers Price Performance

The company has a 50-day moving average of $62.76 and a 200-day moving average of $71.55. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 3.63 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The business had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. During the same quarter in the prior year, the business earned $1.91 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts predict that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Truist Financial Corp raised its stake in shares of Scorpio Tankers by 1.4% during the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after buying an additional 149 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares in the last quarter. Quarry LP lifted its stake in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Scorpio Tankers by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after buying an additional 252 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares during the period. 54.64% of the stock is owned by hedge funds and other 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.