Seaport Global Securities Analysts Decrease Earnings Estimates for Scorpio Tankers Inc. (STNG)
Scorpio Tankers Inc. (NYSE:STNG) – Investment analysts at Seaport Global Securities cut their Q1 2018 earnings per share (EPS) estimates for shares of Scorpio Tankers in a research note issued on Wednesday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will post earnings of $0.12 per share for the quarter, down from their previous estimate of $0.13. Seaport Global Securities also issued estimates for Scorpio Tankers’ Q2 2018 earnings at $0.12 EPS, Q4 2018 earnings at $0.14 EPS and FY2018 earnings at $0.51 EPS.
Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, November 16th. The shipping company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The firm had revenue of $123.20 million during the quarter, compared to the consensus estimate of $129.54 million. During the same quarter in the prior year, the business posted ($0.11) earnings per share. Scorpio Tankers’s revenue for the quarter was up 7.8% compared to the same quarter last year.
Shares of Scorpio Tankers (STNG) traded down $0.14 on Friday, hitting $3.10. The stock had a trading volume of 5,552,900 shares, compared to its average volume of 3,173,411. Scorpio Tankers has a 52 week low of $3.09 and a 52 week high of $4.93. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.59.
A number of institutional investors have recently bought and sold shares of the stock. Vitol Holding SARL boosted its holdings in shares of Scorpio Tankers by 4,700.0% in the 3rd quarter. Vitol Holding SARL now owns 1,200,000 shares of the shipping company’s stock worth $4,116,000 after purchasing an additional 1,175,000 shares in the last quarter. Front Barnett Associates LLC purchased a new position in shares of Scorpio Tankers in the 2nd quarter worth about $1,583,000. Goldman Sachs Group Inc. boosted its holdings in shares of Scorpio Tankers by 42.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,451,371 shares of the shipping company’s stock worth $5,762,000 after purchasing an additional 434,703 shares in the last quarter. Tricadia Capital Management LLC boosted its holdings in shares of Scorpio Tankers by 5.3% in the 2nd quarter. Tricadia Capital Management LLC now owns 2,961,414 shares of the shipping company’s stock worth $11,757,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Scorpio Tankers by 58.4% in the 1st quarter. Geode Capital Management LLC now owns 433,147 shares of the shipping company’s stock worth $1,923,000 after purchasing an additional 159,649 shares in the last quarter. Institutional investors and hedge funds own 65.14% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.29%. Scorpio Tankers’s payout ratio is -5.06%.
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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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