Scorpio Tankers Inc. (NYSE: STNG) stock jumped 2.67% on Monday to $53.85 against a previous-day closing price of $52.45. With 0.84 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.08 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $54.31 whereas the lowest price it dropped to was $52.72. The 52-week range on STNG shows that it touched its highest point at $64.20 and its lowest point at $38.05 during that stretch. It currently has a 1-year price target of $71.58. With its current market cap of 2.91 billion, STNG has annualized dividend of $1.00 while the current yield stands at 1.86%. Beta for the stock currently stands at 0.41.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of STNG was up-trending over the past week, with a rise of 6.25%, but this was up by 4.28% over a month. Three-month performance surged to 16.81% while six-month performance fell -0.28%. The stock gained 20.28% in the past year, while it has gained 0.15% so far this year. A look at the trailing 12-month EPS for STNG yields 14.77 with Next year EPS estimates of 9.16. For the next quarter, that number is 1.48. This implies an EPS growth rate of 334.20% for this year and -7.36% for next year.
Float and Shares Shorts:
At present, 56.84 million STNG shares are outstanding with a float of 46.31 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.31 million, which was 6.19% higher than short shares on Jul 30, 2023. In addition to Mr. Emanuele A. Lauro as the firm’s Founder, Chairman & CEO, Mr. Robert L. Bugbee serves as its Pres & Director.
Through their ownership of 70.54% of STNG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 34.96% of STNG, in contrast to 23.53% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in STNG with 6.35% of the stake, Dimensional Fund Advisors LP holds 3,774,405 shares worth 3,774,405. A second-largest stockholder of STNG, BlackRock Fund Advisors, holds 2,468,773 shares, controlling over 4.15% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in STNG, holding 1,197,577 shares or 2.01% stake. With a 1.99% stake in STNG, the iShares Russell 2000 ETF is the largest stakeholder. A total of 1,181,974 shares are owned by the mutual fund manager. The DFA US Small Cap Value Portfolio, which owns about 1.83% of STNG stock, is the second-largest Mutual Fund holder. It holds 1,087,211 shares valued at 54.92 million. Magallanes Value Investors UCITS holds 0.95% of the stake in STNG, owning 565,337 shares worth 28.56 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, STNG reported revenue of $405.07M and operating income of $231.04M. The EBITDA in the recently reported quarter was $274.87M and diluted EPS was $3.06.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for STNG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With STNG analysts setting a high price target of $85.00 and a low target of $53.00, the average target price over the next 12 months is $72.14. Based on these targets, STNG could surge 57.85% to reach the target high and fall by -1.58% to reach the target low. Reaching the average price target will result in a growth of 33.96% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.