STNG Stock Recent News

Zacks.com users have recently been watching Scorpio Tankers (STNG) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

Scorpio Tankers (STNG) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

Scorpio Tankers is set to benefit from the tailwinds in the product tanker market and rising dayrates. The fallout from two wars and a drought impacting the Panama Canal are leading to longer routes and less effective capacity. STNG is well positioned to benefit from the current market dynamics unfolding.

J Mintzmyer discusses his favorite tanker stocks, Scorpio Tankers and Tsakos Energy Navigation, highlighting their strong balance sheets and potential for growth. He believes that the market is skeptical about the tanker industry's prospects, leading to undervalued stocks.

Scorpio Tankers (STNG) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.

Zacks.com users have recently been watching Scorpio Tankers (STNG) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

Global shipping stocks have underperformed the S&P 500 this year, including the SonicShares Global Shipping ETF. Scorpio Tankers is undervalued and has strong technical and momentum indicators following a solid Q3 earnings report. The company's earnings, valuation, dividend yield, and free cash flow forecasts make it an appealing investment option.

Scorpio Tanker is the largest owner of product tankers. It has 111 vessels at an average age of 7.8 years. 78% of the fleet is equipped with scrubbers. In 2019, Total Debt/Capital was 61.2%, and Total Debt/Equity was 157.9%. Last quarter the figures were 42% and 72.4% respectively. STNG realized 30.24% ROE and 11.86% ROTC last quarter. The gross margin increased from 37.44% in 2021 to 75.3% in 3Q23.

Scorpio Tankers (STNG) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.