Scorpio Tankers (NYSE:STNG) Posts Quarterly Earnings Results

by · The Cerbat Gem

Scorpio Tankers (NYSE:STNG – Get Free Report) announced its earnings results on Tuesday. The shipping company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.61 by $0.14, Briefing.com reports. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. During the same period last year, the company posted $1.91 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis.

Scorpio Tankers Stock Down 1.9 %

STNG traded down $1.11 during midday trading on Wednesday, hitting $58.21. 289,611 shares of the company’s stock traded hands, compared to its average volume of 912,778. The company has a market cap of $3.18 billion, a PE ratio of 5.41 and a beta of 0.15. The stock’s fifty day simple moving average is $68.85 and its 200-day simple moving average is $74.06. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. Scorpio Tankers has a one year low of $52.68 and a one year high of $84.67.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

Analyst Ratings Changes

STNG has been the subject of several recent analyst reports. Evercore ISI decreased their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Bank of America decreased their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.40.

Read Our Latest Stock Analysis on STNG

About Scorpio Tankers

(Get Free Report)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.

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