Seaport Global Securities Weighs in on Scorpio Tankers Inc.’s Q4 2018 Earnings (STNG)

Scorpio Tankers Inc. (NYSE:STNG) – Equities researchers at Seaport Global Securities reduced their Q4 2018 EPS estimates for Scorpio Tankers in a research report issued on Thursday. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.14. Seaport Global Securities also issued estimates for Scorpio Tankers’ Q1 2019 earnings at $0.14 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.14 EPS and FY2019 earnings at $0.54 EPS.

STNG has been the topic of several other reports. Credit Suisse Group reiterated a “buy” rating and issued a $7.00 price target on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. ValuEngine lowered shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 price target (down from $8.00) on shares of Scorpio Tankers in a research report on Wednesday, September 20th. Finally, UBS Group upgraded shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 price target on the stock in a research report on Monday, November 13th. Three research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $6.28.

Scorpio Tankers (NYSE STNG) traded down $0.01 during mid-day trading on Monday, hitting $3.29. 2,741,856 shares of the stock traded hands, compared to its average volume of 3,600,000. The firm has a market capitalization of $1,040.00, a price-to-earnings ratio of -4.16 and a beta of 1.59. Scorpio Tankers has a twelve month low of $2.99 and a twelve month high of $4.84. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.59.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $123.20 million for the quarter, compared to analyst estimates of $129.54 million. Scorpio Tankers had a negative return on equity of 6.47% and a negative net margin of 31.12%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) earnings per share.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.22%. Scorpio Tankers’s dividend payout ratio (DPR) is currently -5.06%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in Scorpio Tankers by 5.1% during the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after acquiring an additional 1,316 shares during the last quarter. MML Investors Services LLC boosted its position in Scorpio Tankers by 137.2% during the second quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after acquiring an additional 21,250 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Scorpio Tankers during the second quarter worth approximately $154,000. BlueCrest Capital Management Ltd boosted its position in Scorpio Tankers by 498.3% during the second quarter. BlueCrest Capital Management Ltd now owns 70,897 shares of the shipping company’s stock worth $281,000 after acquiring an additional 59,048 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Scorpio Tankers by 66.2% during the third quarter. Legal & General Group Plc now owns 85,648 shares of the shipping company’s stock worth $296,000 after acquiring an additional 34,129 shares during the last quarter. Hedge funds and other institutional investors own 59.04% of the company’s stock.

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Scorpio Tankers Company Profile

Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

Earnings History and Estimates for Scorpio Tankers (NYSE:STNG)

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