Scorpio Tankers (NYSE:STNG) Issues Earnings Results

Scorpio Tankers (NYSE:STNG) released its earnings results on Wednesday. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08), Zacks reports. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%.

Scorpio Tankers Stock Performance

Shares of Scorpio Tankers stock traded down $0.26 on Wednesday, reaching $47.92. 865,120 shares of the company were exchanged, compared to its average volume of 1,042,977. Scorpio Tankers has a 1-year low of $45.43 and a 1-year high of $84.67. 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 company’s 50-day moving average is $49.64 and its two-hundred day moving average is $60.28. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 3.44 and a beta of 0.08.

Analyst Ratings Changes

Several analysts recently weighed in on STNG shares. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price objective for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI lowered their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. 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 report on Tuesday, October 22nd. Finally, Jefferies Financial Group decreased their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and an average price target of $72.75.

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.