Seaport Global Securities Research Analysts Increase Earnings Estimates for Scorpio Tankers Inc. (STNG)

Scorpio Tankers Inc. (NYSE:STNG) – Analysts at Seaport Global Securities lifted their FY2017 earnings per share estimates for shares of Scorpio Tankers in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will earn ($0.38) per share for the year, up from their prior estimate of ($0.39). Seaport Global Securities also issued estimates for Scorpio Tankers’ Q4 2017 earnings at ($0.07) EPS and Q3 2018 earnings at $0.13 EPS.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.04). The company had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $129.54 million. Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS.

Several other research analysts have also recently issued reports on STNG. BidaskClub cut Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Stifel Nicolaus set a $8.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 28th. Credit Suisse Group reiterated a “buy” rating and set a $7.00 price target on shares of Scorpio Tankers in a report on Tuesday, September 19th. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Finally, Jefferies Group reiterated a “buy” rating and set a $5.50 price target on shares of Scorpio Tankers in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $6.33.

Scorpio Tankers (STNG) opened at $3.07 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 1.03. Scorpio Tankers has a 1 year low of $3.06 and a 1 year high of $4.93.

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in Scorpio Tankers by 5.1% during the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after acquiring an additional 1,316 shares during the period. MML Investors Services LLC raised its stake 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 bought a new stake in shares of Scorpio Tankers in the second quarter valued at $154,000. BlueCrest Capital Management Ltd raised its stake in shares of Scorpio Tankers by 498.3% in the second quarter. BlueCrest Capital Management Ltd now owns 70,897 shares of the shipping company’s stock valued at $281,000 after buying an additional 59,048 shares during the period. Finally, Pacad Investment Ltd. bought a new stake in shares of Scorpio Tankers in the second quarter valued at $307,000. Institutional investors and hedge funds own 65.14% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.30%. Scorpio Tankers’s dividend payout ratio (DPR) is currently -5.06%.

TRADEMARK VIOLATION WARNING: “Seaport Global Securities Research Analysts Increase Earnings Estimates for Scorpio Tankers Inc. (STNG)” was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another domain, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/12/04/seaport-global-securities-research-analysts-increase-earnings-estimates-for-scorpio-tankers-inc-stng.html.

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).

Earnings History and Estimates for Scorpio Tankers (NYSE:STNG)

Receive News & Ratings for Scorpio Tankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply