Q3 2017 EPS Estimates for Scorpio Tankers Inc. (STNG) Raised by Jefferies Group
Scorpio Tankers Inc. (NASDAQ:STNG) – Analysts at Jefferies Group upped their Q3 2017 earnings per share (EPS) estimates for shares of Scorpio Tankers in a research report issued to clients and investors on Thursday. Jefferies Group analyst D. Mavrinac now expects that the shipping company will post earnings per share of ($0.11) for the quarter, up from their previous forecast of ($0.12). Jefferies Group currently has a “Buy” rating and a $5.50 price target on the stock. Jefferies Group also issued estimates for Scorpio Tankers’ FY2017 earnings at ($0.20) EPS.
Several other analysts also recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $7.00 price objective (down previously from $8.00) on shares of Scorpio Tankers in a research report on Wednesday, September 20th. BidaskClub cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Credit Suisse Group set a $7.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $6.33.
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Scorpio Tankers (NASDAQ STNG) opened at 3.70 on Monday. The stock has a 50 day moving average of $3.56 and a 200 day moving average of $3.81. The stock’s market cap is $671.10 million. Scorpio Tankers has a 1-year low of $3.20 and a 1-year high of $4.93.
Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. The business had revenue of $118.40 million during the quarter, compared to analysts’ expectations of $130.03 million. Scorpio Tankers’s revenue for the quarter was down 13.7% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in Scorpio Tankers by 15.0% in the 1st quarter. Principal Financial Group Inc. now owns 25,836 shares of the shipping company’s stock worth $115,000 after buying an additional 3,377 shares during the period. Jane Street Group LLC acquired a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $129,000. MML Investors Services LLC grew its holdings in shares of Scorpio Tankers by 137.2% during the 2nd quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after purchasing an additional 21,250 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $164,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Scorpio Tankers during the 2nd quarter worth approximately $154,000.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 25th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Friday, September 22nd.
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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