Equities research analysts expect Scorpio Tankers Inc. (NYSE:STNG) to post ($0.18) earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Scorpio Tankers’ earnings, with the highest EPS estimate coming in at ($0.16) and the lowest estimate coming in at ($0.21). Scorpio Tankers reported earnings of ($0.15) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 20%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 15th.
According to Zacks, analysts expect that Scorpio Tankers will report full year earnings of ($0.47) per share for the current financial year, with EPS estimates ranging from ($0.50) to ($0.35). For the next financial year, analysts anticipate that the firm will report earnings of $0.01 per share, with EPS estimates ranging from ($0.14) to $0.48. Zacks’ EPS averages are an average based on a survey of research analysts that cover Scorpio Tankers.
Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, July 31st. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). Scorpio Tankers had a negative return on equity of 9.08% and a negative net margin of 31.44%. The business had revenue of $141.80 million for the quarter, compared to analysts’ expectations of $144.35 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue was up 19.8% compared to the same quarter last year.
STNG has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on Scorpio Tankers from $3.00 to $2.70 and set an “overweight” rating on the stock in a research report on Wednesday, August 1st. Bank of America dropped their target price on Scorpio Tankers from $3.75 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, August 1st. ValuEngine lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Finally, Stifel Nicolaus set a $5.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a report on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Scorpio Tankers currently has an average rating of “Buy” and an average price target of $4.20.
A number of institutional investors have recently made changes to their positions in STNG. Essex Investment Management Co. LLC bought a new stake in Scorpio Tankers in the second quarter valued at about $109,000. SG Americas Securities LLC increased its holdings in Scorpio Tankers by 321.5% in the first quarter. SG Americas Securities LLC now owns 60,854 shares of the shipping company’s stock valued at $119,000 after buying an additional 46,417 shares during the last quarter. Voya Investment Management LLC increased its holdings in Scorpio Tankers by 27.0% in the second 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 during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Scorpio Tankers by 11.9% in the first 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Scorpio Tankers in the first quarter valued at approximately $410,000. 60.65% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE STNG traded down $0.01 during midday trading on Thursday, reaching $1.96. 1,700,600 shares of the company’s stock were exchanged, compared to its average volume of 3,720,859. Scorpio Tankers has a 52-week low of $1.85 and a 52-week high of $4.18. The firm has a market cap of $666.58 million, a price-to-earnings ratio of -4.17 and a beta of 1.13. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.71 and a current ratio of 0.73.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 20th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.04%. The ex-dividend date is Wednesday, September 19th. Scorpio Tankers’s dividend payout ratio is currently -8.51%.
Scorpio Tankers Company Profile
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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