Scorpio Tankers Inc. (STNG) Expected to Post Earnings of -$0.11 Per Share
Brokerages expect that Scorpio Tankers Inc. (NASDAQ:STNG) will report earnings of ($0.11) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Scorpio Tankers’ earnings, with estimates ranging from ($0.13) to ($0.09). Scorpio Tankers also posted earnings of ($0.11) per share in the same quarter last year. The firm is scheduled to issue its next quarterly earnings results on Monday, November 13th.
On average, analysts expect that Scorpio Tankers will report full year earnings of ($0.21) per share for the current year, with EPS estimates ranging from ($0.29) to ($0.06). For the next year, analysts anticipate that the company will post earnings of $0.46 per share, with EPS estimates ranging from $0.14 to $0.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Scorpio Tankers.
Scorpio Tankers (NASDAQ:STNG) last released its quarterly earnings results on Monday, September 18th. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). Scorpio Tankers had a negative return on equity of 19.98% and a negative net margin of 57.63%. The firm had revenue of $118.40 million during the quarter, compared to analysts’ expectations of $130.03 million. The firm’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 STNG shares. Stifel Nicolaus set a $8.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Monday, August 28th. BidaskClub upgraded shares of Scorpio Tankers from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Jefferies Group LLC restated a “buy” rating and issued a $5.50 price objective (down from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Finally, Credit Suisse Group restated a “buy” rating and issued a $7.00 price objective on shares of Scorpio Tankers in a report on Tuesday, September 19th. 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 stock. The stock has a consensus rating of “Buy” and a consensus target price of $6.33.
Several hedge funds and other institutional investors have recently bought and sold shares of STNG. FMR LLC grew its position in shares of Scorpio Tankers by 160.9% in the 2nd quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock valued at $29,710,000 after buying an additional 4,615,440 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Scorpio Tankers in the 2nd quarter valued at $7,943,000. Solus Alternative Asset Management LP purchased a new position in shares of Scorpio Tankers in the 2nd quarter valued at $4,963,000. Dimensional Fund Advisors LP grew its position in shares of Scorpio Tankers by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,987,443 shares of the shipping company’s stock valued at $63,471,000 after buying an additional 1,247,930 shares during the last quarter. Finally, UBS Oconnor LLC grew its position in shares of Scorpio Tankers by 251.6% in the 2nd quarter. UBS Oconnor LLC now owns 1,556,863 shares of the shipping company’s stock valued at $6,181,000 after buying an additional 1,114,023 shares during the last quarter.
Scorpio Tankers (NASDAQ STNG) traded up 0.56% during trading on Tuesday, reaching $3.56. 1,963,074 shares of the company’s stock traded hands. The company’s market cap is $645.71 million. Scorpio Tankers has a 12-month low of $3.20 and a 12-month high of $4.93. The company has a 50 day moving average price of $3.54 and a 200-day moving average price of $3.77.
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).
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