Brokerages forecast that Scorpio Tankers Inc. (NYSE:STNG) will post ($0.07) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Scorpio Tankers’ earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.04). Scorpio Tankers reported earnings of ($0.14) per share during the same quarter last year, which would suggest a positive year over year growth rate of 50%. The business is expected to announce its next quarterly earnings results on Wednesday, February 13th.
On average, analysts expect that Scorpio Tankers will report full-year earnings of ($0.52) per share for the current fiscal year, with EPS estimates ranging from ($0.57) to ($0.48). For the next year, analysts expect that the business will report earnings of ($0.10) per share, with EPS estimates ranging from ($0.22) to $0.17. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Scorpio Tankers.
Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, October 31st. The shipping company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). Scorpio Tankers had a negative return on equity of 11.07% and a negative net margin of 37.80%. The company had revenue of $119.28 million during the quarter, compared to analyst estimates of $117.59 million. During the same quarter last year, the firm posted ($0.15) EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis.
STNG has been the subject of several recent research reports. B. Riley initiated coverage on Scorpio Tankers in a report on Friday, November 9th. They set a “neutral” rating and a $2.20 target price for the company. Deutsche Bank set a $3.00 target price on Scorpio Tankers and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, BTIG Research initiated coverage on Scorpio Tankers in a report on Thursday, September 27th. They set a “buy” rating and a $3.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Scorpio Tankers has a consensus rating of “Buy” and an average price target of $3.49.
STNG traded down $0.03 during trading hours on Friday, hitting $2.02. The stock had a trading volume of 5,399,235 shares, compared to its average volume of 5,628,436. Scorpio Tankers has a 1 year low of $1.48 and a 1 year high of $3.33. The firm has a market cap of $1.07 billion, a P/E ratio of -4.30 and a beta of 1.00. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.77 and a current ratio of 0.79.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Wednesday, December 5th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Tuesday, December 4th. Scorpio Tankers’s payout ratio is presently -8.51%.
Hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC grew its holdings 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 buying an additional 23,747 shares in the last quarter. Price Capital Management Inc. purchased a new position in Scorpio Tankers during the 2nd quarter valued at about $688,000. Millennium Management LLC grew its holdings in Scorpio Tankers by 805.8% during the 2nd quarter. Millennium Management LLC now owns 259,955 shares of the shipping company’s stock valued at $730,000 after buying an additional 231,256 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Scorpio Tankers during the 3rd quarter valued at about $540,000. Finally, Rhumbline Advisers grew its holdings in Scorpio Tankers by 26.6% during the 2nd quarter. Rhumbline Advisers now owns 286,362 shares of the shipping company’s stock valued at $805,000 after buying an additional 60,183 shares in the last quarter. 38.64% of the stock is owned by institutional investors and hedge funds.
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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