Brokers Offer Predictions for Scorpio Tankers Inc.’s Q3 2018 Earnings (STNG)

Scorpio Tankers Inc. (NYSE:STNG) – Investment analysts at Jefferies Group reduced their Q3 2018 earnings per share (EPS) estimates for Scorpio Tankers in a report released on Wednesday. Jefferies Group analyst R. Giveans now anticipates that the shipping company will earn $0.04 per share for the quarter, down from their previous forecast of $0.07. Jefferies Group currently has a “Buy” rating and a $5.00 target price on the stock. Jefferies Group also issued estimates for Scorpio Tankers’ Q4 2018 earnings at $0.10 EPS and FY2019 earnings at $0.42 EPS.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, February 14th. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.06). Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The business had revenue of $148.40 million during the quarter, compared to analyst estimates of $148.90 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The business’s quarterly revenue was up 39.9% on a year-over-year basis.

STNG has been the subject of a number of other reports. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Stifel Nicolaus set a $7.00 price objective on Scorpio Tankers and gave the stock a “buy” rating in a report on Sunday, October 29th. BidaskClub lowered Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Friday, October 27th. UBS Group raised Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Monday, November 13th. Finally, Morgan Stanley decreased their price objective on Scorpio Tankers from $5.50 to $5.00 and set an “overweight” rating for the company in a report on Friday, November 17th. Three research analysts have rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $6.00.

Scorpio Tankers (STNG) remained flat at $$2.39 on Thursday. 595,037 shares of the company traded hands, compared to its average volume of 4,480,000. Scorpio Tankers has a 1-year low of $2.24 and a 1-year high of $4.79. The company has a market capitalization of $754.27, a price-to-earnings ratio of -3.03 and a beta of 1.29. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99.

Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Scorpio Tankers by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 124,670 shares of the shipping company’s stock worth $495,000 after purchasing an additional 1,315 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Scorpio Tankers by 5.1% in the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after purchasing an additional 1,316 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Scorpio Tankers by 0.8% in the second quarter. Wells Fargo & Company MN now owns 558,058 shares of the shipping company’s stock worth $2,215,000 after purchasing an additional 4,320 shares during the period. Nationwide Fund Advisors increased its holdings in shares of Scorpio Tankers by 4.0% in the second quarter. Nationwide Fund Advisors now owns 131,118 shares of the shipping company’s stock worth $521,000 after purchasing an additional 5,041 shares during the period. Finally, Teachers Advisors LLC increased its holdings in shares of Scorpio Tankers by 2.0% in the second quarter. Teachers Advisors LLC now owns 295,678 shares of the shipping company’s stock worth $1,174,000 after purchasing an additional 5,871 shares during the period. 60.00% of the stock is currently owned by hedge funds and other institutional investors.

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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)

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