-$0.11 EPS Expected for Scorpio Tankers Inc. (STNG) This Quarter
Wall Street analysts expect Scorpio Tankers Inc. (NASDAQ:STNG) to post earnings of ($0.11) per share for the current quarter, according to Zacks. Four analysts have made estimates for Scorpio Tankers’ earnings, with estimates ranging from ($0.13) to ($0.05). Scorpio Tankers also posted earnings per share of ($0.11) in the same quarter last year. The firm is scheduled to report its next quarterly earnings results on Monday, November 13th.
According to Zacks, analysts expect that Scorpio Tankers will report full year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.29) to ($0.06). For the next financial year, analysts expect that the firm will report earnings of $0.50 per share, with EPS estimates ranging from $0.16 to $0.93. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover 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 Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). The firm had revenue of $118.40 million during the quarter, compared to analyst estimates of $130.03 million. Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. Scorpio Tankers’s quarterly revenue was down 13.7% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 price target (down from $8.00) on shares of Scorpio Tankers in a report on Wednesday, September 20th. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Credit Suisse Group reiterated a “buy” rating and issued a $7.00 price target on shares of Scorpio Tankers in a report on Tuesday, September 19th. BidaskClub upgraded Scorpio Tankers from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Jefferies Group LLC restated a “buy” rating and set a $5.50 price objective (down previously from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $6.33.
Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Scorpio Tankers by 5.1% in the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock valued at $108,000 after buying an additional 1,316 shares during the period. Jane Street Group LLC acquired a new stake in shares of Scorpio Tankers in the first quarter valued at $129,000. MML Investors Services LLC lifted its holdings in shares of Scorpio Tankers by 137.2% in the second quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock valued at $146,000 after buying an additional 21,250 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Scorpio Tankers in the second quarter valued at $154,000. Finally, Karp Capital Management Corp acquired a new stake in shares of Scorpio Tankers in the first quarter valued at $164,000.
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Scorpio Tankers (NASDAQ STNG) traded up 1.71% during midday trading on Thursday, hitting $3.57. The stock had a trading volume of 1,522,896 shares. The company has a 50-day moving average price of $3.62 and a 200-day moving average price of $3.85. The company’s market cap is $647.52 million. Scorpio Tankers has a 12-month low of $3.20 and a 12-month high of $4.93.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 25th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 1.12%.
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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