Zacks: Analysts Anticipate Scorpio Tankers Inc. (STNG) to Post -$0.12 Earnings Per Share
Equities analysts expect Scorpio Tankers Inc. (NASDAQ:STNG) to post ($0.12) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Scorpio Tankers’ earnings, with the highest EPS estimate coming in at ($0.12) and the lowest estimate coming in at ($0.13). Scorpio Tankers reported earnings of ($0.11) per share during the same quarter last year, which suggests a negative year over year growth rate of 9.1%. The business is expected to report its next quarterly earnings report on Monday, November 13th.
On average, analysts expect that Scorpio Tankers will report full-year earnings of ($0.04) per share for the current year, with EPS estimates ranging from ($0.29) to $0.74. For the next fiscal year, analysts forecast that the firm will post earnings of $0.56 per share, with EPS estimates ranging from $0.35 to $0.93. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Scorpio Tankers.
Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). Scorpio Tankers had a negative net margin of 9.39% and a negative return on equity of 3.53%. The company had revenue of $118.40 million for the quarter, compared to the consensus estimate of $130.03 million. The firm’s revenue was down 13.7% on a year-over-year basis.
Several analysts have recently commented on the company. Credit Suisse Group reiterated a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a report on Tuesday, September 19th. Stifel Nicolaus reiterated a “buy” rating and set a $7.00 price objective (down previously from $8.00) on shares of Scorpio Tankers in a report on Wednesday. BidaskClub lowered Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $5.50 price objective (down previously from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Scorpio Tankers currently has a consensus rating of “Buy” and an average price target of $6.33.
Shares of Scorpio Tankers (NASDAQ:STNG) opened at 3.59 on Friday. The firm has a 50 day moving average price of $3.58 and a 200-day moving average price of $3.91. The company’s market cap is $651.15 million. Scorpio Tankers has a 12-month low of $3.20 and a 12-month high of $5.01.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 25th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, September 22nd.
Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of Scorpio Tankers by 191.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,016,668 shares of the shipping company’s stock valued at $4,514,000 after acquiring an additional 667,860 shares during the period. American International Group Inc. grew its position in shares of Scorpio Tankers by 7.1% during the 1st quarter. American International Group Inc. now owns 100,667 shares of the shipping company’s stock valued at $447,000 after acquiring an additional 6,647 shares during the period. Front Barnett Associates LLC acquired a new stake in shares of Scorpio Tankers during the 2nd quarter valued at about $1,583,000. Tricadia Capital Management LLC grew its position in shares of Scorpio Tankers by 5.3% during the 2nd quarter. Tricadia Capital Management LLC now owns 2,961,414 shares of the shipping company’s stock valued at $11,757,000 after acquiring an additional 150,000 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Scorpio Tankers by 58.4% during the 1st quarter. Geode Capital Management LLC now owns 433,147 shares of the shipping company’s stock valued at $1,923,000 after acquiring an additional 159,649 shares during the period.
About Scorpio Tankers
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).
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