Scorpio Tankers Inc. (STNG) Issues Earnings Results, Misses Expectations By $0.04 EPS
Scorpio Tankers Inc. (NYSE:STNG) announced its quarterly earnings data on Thursday. The shipping company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04), Briefing.com reports. Scorpio Tankers had a negative net margin of 29.58% and a negative return on equity of 5.63%. The company had revenue of $123.20 million for the quarter, compared to the consensus estimate of $129.54 million. During the same quarter in the previous year, the business earned ($0.11) EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year.
Scorpio Tankers (STNG) traded up $0.06 during trading hours on Friday, reaching $3.40. 5,357,586 shares of the company’s stock traded hands, compared to its average volume of 3,094,345. Scorpio Tankers has a 12 month low of $3.20 and a 12 month high of $4.93. The company has a current ratio of 1.36, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio is presently -5.00%.
A number of equities research analysts recently weighed in on STNG shares. 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. BidaskClub lowered shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Credit Suisse Group set a $7.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Monday, July 31st. 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. Finally, Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $6.44.
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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