Wall Street analysts forecast that Scorpio Tankers Inc. (NYSE:STNG) will report earnings per share of ($0.20) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Scorpio Tankers’ earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.23). Scorpio Tankers reported earnings per share of ($0.15) in the same quarter last year, which would suggest a negative year-over-year growth rate of 33.3%. The business is scheduled to report its next earnings report on Thursday, November 15th.
On average, analysts expect that Scorpio Tankers will report full-year earnings of ($0.48) per share for the current fiscal year, with EPS estimates ranging from ($0.59) to ($0.34). For the next fiscal year, analysts expect that the company will report earnings of ($0.03) per share, with EPS estimates ranging from ($0.14) to $0.29. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Scorpio Tankers.
Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 31st. The shipping company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The firm had revenue of $141.80 million for the quarter, compared to analyst estimates of $144.35 million. Scorpio Tankers had a negative return on equity of 9.08% and a negative net margin of 31.44%. The business’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) earnings per share.
A number of research firms have recently issued reports on STNG. Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. ValuEngine lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Morgan Stanley lowered their target price on Scorpio Tankers from $3.00 to $2.70 and set an “overweight” rating for the company in a research note on Wednesday, August 1st. Stifel Nicolaus set a $5.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research note on Tuesday, July 31st. Finally, Bank of America lowered their target price on Scorpio Tankers from $3.75 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Scorpio Tankers has an average rating of “Buy” and an average target price of $4.03.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in Scorpio Tankers by 11.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 196,351 shares of the shipping company’s stock valued at $385,000 after purchasing an additional 20,833 shares in the last quarter. Voya Investment Management LLC grew its stake in Scorpio Tankers by 27.0% during the 2nd quarter. Voya Investment Management LLC now owns 111,860 shares of the shipping company’s stock valued at $314,000 after purchasing an additional 23,747 shares in the last quarter. California State Teachers Retirement System grew its stake in Scorpio Tankers by 8.8% during the 1st quarter. California State Teachers Retirement System now owns 410,437 shares of the shipping company’s stock valued at $804,000 after purchasing an additional 33,232 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Scorpio Tankers during the 2nd quarter valued at approximately $109,000. Finally, SG Americas Securities LLC grew its stake in Scorpio Tankers by 321.5% during the 1st quarter. SG Americas Securities LLC now owns 60,854 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 46,417 shares in the last quarter. Hedge funds and other institutional investors own 60.65% of the company’s stock.
NYSE:STNG traded down $0.03 on Friday, hitting $1.77. 7,957,302 shares of the stock were exchanged, compared to its average volume of 3,722,140. The firm has a market capitalization of $666.58 million, a PE ratio of -3.77 and a beta of 1.06. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.71. Scorpio Tankers has a fifty-two week low of $1.75 and a fifty-two week high of $3.72.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Thursday, September 20th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, September 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.26%. Scorpio Tankers’s dividend payout ratio (DPR) is currently -8.51%.
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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