Q3 2016 EPS Estimates for Scorpio Tankers Inc. Lowered by Seaport Global Securities (STNG)
Scorpio Tankers Inc. (NASDAQ:STNG) – Equities researchers at Seaport Global Securities dropped their Q3 2016 EPS estimates for shares of Scorpio Tankers in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the firm will post earnings of ($0.20) per share for the quarter, down from their previous estimate of ($0.18). Seaport Global Securities also issued estimates for Scorpio Tankers’ Q4 2016 earnings at ($0.18) EPS and FY2017 earnings at $0.29 EPS.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Thursday. Clarkson Capital downgraded Scorpio Tankers from a “buy” rating to a “neutral” rating in a research report on Monday, October 3rd. Morgan Stanley restated an “equal weight” rating and issued a $4.50 target price (down previously from $6.00) on shares of Scorpio Tankers in a research report on Friday, August 26th. Deutsche Bank AG set a $9.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 1st. Finally, Jefferies Group set a $7.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.83.
Shares of Scorpio Tankers (NASDAQ:STNG) traded down 1.54% during midday trading on Thursday, hitting $4.48. The company had a trading volume of 1,448,006 shares. The company has a 50-day moving average of $4.81 and a 200 day moving average of $5.20. The firm has a market capitalization of $722.99 million and a PE ratio of 5.14. Scorpio Tankers has a 12 month low of $4.05 and a 12 month high of $9.83.
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Scorpio Tankers (NASDAQ:STNG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.03. The company earned $137.21 million during the quarter, compared to analysts’ expectations of $146.20 million. Scorpio Tankers’s revenue was down 27.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS.
Several large investors have recently modified their holdings of STNG. Tdam USA Inc. boosted its stake in shares of Scorpio Tankers by 1.2% in the second quarter. Tdam USA Inc. now owns 112,968 shares of the company’s stock worth $474,000 after buying an additional 1,319 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Scorpio Tankers by 3.4% in the second quarter. Principal Financial Group Inc. now owns 40,873 shares of the company’s stock worth $172,000 after buying an additional 1,337 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Scorpio Tankers by 1.1% in the second quarter. Alliancebernstein L.P. now owns 260,960 shares of the company’s stock worth $1,096,000 after buying an additional 2,760 shares during the last quarter. Wall Street Access Asset Management LLC boosted its stake in shares of Scorpio Tankers by 4.9% in the second quarter. Wall Street Access Asset Management LLC now owns 107,500 shares of the company’s stock worth $451,000 after buying an additional 5,000 shares during the last quarter. Finally, Putnam FL Investment Management Co. boosted its stake in shares of Scorpio Tankers by 19.3% in the second quarter. Putnam FL Investment Management Co. now owns 33,695 shares of the company’s stock worth $142,000 after buying an additional 5,460 shares during the last quarter.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 10.99%.
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, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers, which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.
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