Scorpio Tankers Inc. [NYSE: STNG] traded at a high on 06/24/21, posting a 3.59 gain after which it closed the day’ session at $23.97. The company report on June 24, 2021 that Scorpio Tankers Inc. Announces Closing of $61.8 Million Convertible Note Exchange and New Issuance.
Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced that it has closed its previously announced private exchange offer (the “Exchange Offer”), pursuant to which certain holders of the Company’s 3.00% Convertible Senior Notes due 2022 (the “Existing Notes”) exchanged $19.4 million in aggregate principal amount of such Existing Notes for $19.4 million in aggregate principal amount of the Company’s 3.00% Convertible Senior Notes due 2025 (the “Exchange Notes”). In addition, the Company has closed separate, privately negotiated, agreements with certain investors for the sale (the “Sale”) of $42.4 million in aggregate principal amount of the new 3.00% Convertible Senior Notes due 2025 (the “Purchased Notes” at 102.25% of par, plus accrued interest from May 15, 2020, and together with the Exchange Notes, the “New Notes”) in a private offering.
Following closing of the Exchange Offer and the Sale, there are $69.7 million in the aggregate principal amount of the Existing Notes outstanding and $200.0 million in the aggregate principal amount of the 3.00% Convertible Senior Notes due 2025 outstanding.
The results of the trading session contributed to over 1559260 shares changing hands. Over the past one week, the price volatility of Scorpio Tankers Inc. stands at 4.52% while the volatility over the past one month is 4.23%.
The market cap for STNG stock reached $1.39 billion, with 54.32 million shares outstanding and 45.81 million shares in the current float. Compared to the average trading volume of 936.48K shares, STNG reached a trading volume of 1559260 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Scorpio Tankers Inc. [STNG]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STNG shares is $23.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on STNG stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Scorpio Tankers Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 29, 2021. The new note on the price target was released on March 09, 2020, representing the official price target for Scorpio Tankers Inc. stock. Previously, the target price had yet another raise to $30, while DNB Markets analysts kept a Hold rating on STNG stock. On October 17, 2019, analysts increased their price target for STNG shares from 32 to 37.
The Average True Range (ATR) for Scorpio Tankers Inc. is set at 1.04, with the Price to Sales ratio for STNG stock in the period of the last 12 months amounting to 1.75. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 4.64. Price to Free Cash Flow for STNG in the course of the last twelve months was 3.97 with Quick ratio for the last quarter at 0.90.
How has STNG stock performed recently?
Scorpio Tankers Inc. [STNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.48. With this latest performance, STNG shares gained by 10.92% in over the last four-week period, additionally plugging by 121.53% over the last 6 months – not to mention a rise of 72.82% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STNG stock in for the last two-week period is set at 66.61, with the RSI for the last a single of trading hit 71.63, and the three-weeks RSI is set at 63.93 for Scorpio Tankers Inc. [STNG]. The present Moving Average for the last 50 days of trading for this stock 20.53, while it was recorded at 22.58 for the last single week of trading, and 15.17 for the last 200 days.
Scorpio Tankers Inc. [STNG]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Scorpio Tankers Inc. [STNG] shares currently have an operating margin of +28.63 and a Gross Margin at +35.85. Scorpio Tankers Inc.’s Net Margin is presently recorded at +10.28.
Return on Total Capital for STNG is now 5.13, given the latest momentum, and Return on Invested Capital for the company is 2.00. Return on Equity for this stock inclined to 4.66, with Return on Assets sitting at 1.82. When it comes to the capital structure of this company, Scorpio Tankers Inc. [STNG] has a Total Debt to Total Equity ratio set at 147.54. Additionally, STNG Total Debt to Total Capital is recorded at 59.60, with Total Debt to Total Assets ending up at 59.08. Long-Term Debt to Equity for the company is recorded at 130.06, with the Long-Term Debt to Total Capital now at 52.54.
Reflecting on the efficiency of the workforce at the company, Scorpio Tankers Inc. [STNG] managed to generate an average of $3,764,960 per employee. Receivables Turnover for the company is 16.47 with a Total Asset Turnover recorded at a value of 0.18.Scorpio Tankers Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.
Earnings analysis for Scorpio Tankers Inc. [STNG]
With the latest financial reports released by the company, Scorpio Tankers Inc. posted 2.4/share EPS, while the average EPS was predicted by analysts to be reported at 2.81/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for STNG.
Insider trade positions for Scorpio Tankers Inc. [STNG]
There are presently around $596 million, or 47.50% of STNG stock, in the hands of institutional investors. The top three institutional holders of STNG stocks are: BLACKROCK INC. with ownership of 3,751,825, which is approximately 26.895% of the company’s market cap and around 3.20% of the total institutional ownership; DIMENSIONAL FUND ADVISORS LP, holding 2,592,190 shares of the stock with an approximate value of $62.13 million in STNG stocks shares; and HOSKING PARTNERS LLP, currently with $22.65 million in STNG stock with ownership of nearly -22.485% of the company’s market capitalization.
Positions in Scorpio Tankers Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 81 institutional holders increased their position in Scorpio Tankers Inc. [NYSE:STNG] by around 6,224,581 shares. Additionally, 74 investors decreased positions by around 3,554,380 shares, while 21 investors held positions by with 15,077,410 shares. The mentioned changes placed institutional holdings at 24,856,371 shares, according to the latest SEC report filing. STNG stock had 32 new institutional investments in for a total of 2,029,223 shares, while 28 institutional investors sold positions of 829,034 shares during the same period.