Analysts predict that Scorpio Tankers (NYSE:STNG) will announce earnings per share (EPS) of ($0.10) for the current quarter, according to Zacks. Five analysts have made estimates for Scorpio Tankers’ earnings, with estimates ranging from ($0.15) to ($0.07). Scorpio Tankers posted earnings per share of ($0.09) in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.1%. The firm is scheduled to announce its next quarterly earnings report on Monday, September 17th.
According to Zacks, analysts expect that Scorpio Tankers will report full year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.42) to ($0.02). For the next fiscal year, analysts anticipate that the firm will post earnings of $0.16 per share, with EPS estimates ranging from ($0.08) to $0.52. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Scorpio Tankers.
Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, April 25th. The shipping company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Scorpio Tankers had a negative return on equity of 7.61% and a negative net margin of 32.67%. The business had revenue of $156.50 million for the quarter, compared to the consensus estimate of $154.72 million. During the same quarter last year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year.
STNG has been the topic of several analyst reports. Stifel Nicolaus set a $5.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research note on Wednesday, January 24th. ValuEngine lowered Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Morgan Stanley dropped their price target on Scorpio Tankers from $5.00 to $3.50 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Credit Suisse Group decreased their target price on Scorpio Tankers from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, Bank of America decreased their target price on Scorpio Tankers from $3.85 to $2.75 and set a “buy” rating for the company in a report on Monday, March 19th. Three investment analysts have rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $4.68.
Shares of Scorpio Tankers stock traded down $0.05 during trading on Friday, hitting $2.76. 229,516 shares of the stock traded hands, compared to its average volume of 4,024,055. The firm has a market cap of $945.15 million, a P/E ratio of -5.83 and a beta of 1.34. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. Scorpio Tankers has a 52-week low of $2.72 and a 52-week high of $2.81.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Wednesday, June 6th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, June 5th. Scorpio Tankers’s payout ratio is -8.51%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Scorpio Tankers by 8.8% in the 1st quarter. California State Teachers Retirement System now owns 410,437 shares of the shipping company’s stock valued at $804,000 after buying an additional 33,232 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Scorpio Tankers by 11.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 196,351 shares of the shipping company’s stock valued at $385,000 after buying an additional 20,833 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Scorpio Tankers in the 1st quarter valued at $1,567,000. Nuveen Asset Management LLC grew its holdings in Scorpio Tankers by 1.3% in the 1st quarter. Nuveen Asset Management LLC now owns 6,184,122 shares of the shipping company’s stock valued at $12,121,000 after buying an additional 80,911 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Scorpio Tankers by 40.6% in the 1st quarter. Russell Investments Group Ltd. now owns 7,339,738 shares of the shipping company’s stock valued at $14,385,000 after buying an additional 2,121,265 shares in the last quarter. Hedge funds and other institutional investors own 62.86% of the company’s stock.
About Scorpio Tankers
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.
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