Brokerages Expect Scorpio Tankers Inc. (NASDAQ:STNG) Will Post Quarterly Sales of $139.16 Million
Wall Street analysts expect that Scorpio Tankers Inc. (NASDAQ:STNG) will announce sales of $139.16 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Scorpio Tankers’ earnings, with the lowest sales estimate coming in at $129.32 million and the highest estimate coming in at $165.60 million. Scorpio Tankers reported sales of $137.21 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.4%. The company is expected to issue its next quarterly earnings results on Thursday, July 27th.
On average, analysts expect that Scorpio Tankers will report full year sales of $139.16 million for the current fiscal year, with estimates ranging from $569.15 million to $706.15 million. For the next year, analysts anticipate that the company will post sales of $852.25 million per share, with estimates ranging from $747.32 million to $1.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Scorpio Tankers.
Scorpio Tankers (NASDAQ:STNG) last released its quarterly earnings data on Thursday, April 27th. The shipping company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. The company had revenue of $122.80 million for the quarter, compared to the consensus estimate of $119.80 million. Scorpio Tankers had a negative return on equity of 3.53% and a negative net margin of 9.39%. Scorpio Tankers’s quarterly revenue was down 25.6% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS.
A number of equities analysts recently issued reports on STNG shares. Bank of America Corporation raised Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Friday, May 12th. Cowen and Company reissued an “outperform” rating and set a $7.00 price target (down previously from $10.00) on shares of Scorpio Tankers in a report on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and set a $6.00 price target on shares of Scorpio Tankers in a report on Thursday, May 25th. Credit Suisse Group set a $7.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a report on Wednesday, May 24th. Finally, Seaport Global Securities reissued a “buy” rating and set a $7.50 price target on shares of Scorpio Tankers in a report on Thursday, May 25th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $6.50.
Scorpio Tankers (NASDAQ STNG) opened at 3.78 on Friday. The firm’s 50-day moving average price is $3.89 and its 200 day moving average price is $4.14. The stock’s market capitalization is $615.05 million. Scorpio Tankers has a 12-month low of $3.42 and a 12-month high of $5.53.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 14th. Investors of record on Thursday, May 11th were given a $0.01 dividend. The ex-dividend date was Tuesday, May 9th. This represents a $0.04 dividend on an annualized basis and a yield of 1.06%.
A number of large investors have recently made changes to their positions in STNG. Wellington Management Group LLP increased its stake in Scorpio Tankers by 3.6% in the first quarter. Wellington Management Group LLP now owns 19,933,081 shares of the shipping company’s stock worth $88,503,000 after buying an additional 684,099 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 14,739,513 shares of the shipping company’s stock worth $65,444,000 after buying an additional 465,968 shares during the last quarter. Boston Partners increased its stake in Scorpio Tankers by 47.6% in the first quarter. Boston Partners now owns 4,782,108 shares of the shipping company’s stock worth $21,233,000 after buying an additional 1,542,838 shares during the last quarter. Impala Asset Management LLC bought a new stake in Scorpio Tankers during the first quarter worth about $14,042,000. Finally, Comerica Bank increased its stake in Scorpio Tankers by 0.3% in the first quarter. Comerica Bank now owns 3,144,642 shares of the shipping company’s stock worth $14,372,000 after buying an additional 8,220 shares during the last quarter.
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, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Scorpio Tankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.