Scorpio Tankers Inc. (NYSE:STNG) Expected to Post Earnings of -$0.86 Per Share

Equities analysts expect Scorpio Tankers Inc. (NYSE:STNG) to report earnings of ($0.86) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Scorpio Tankers’ earnings, with the highest EPS estimate coming in at ($0.64) and the lowest estimate coming in at ($0.95). Scorpio Tankers reported earnings of ($2.10) per share during the same quarter last year, which would indicate a positive year over year growth rate of 59%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Scorpio Tankers will report full-year earnings of ($0.03) per share for the current financial year, with EPS estimates ranging from ($1.04) to $1.50. For the next year, analysts anticipate that the company will report earnings of $3.22 per share, with EPS estimates ranging from $0.25 to $5.94. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Scorpio Tankers.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, November 7th. The shipping company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.06). Scorpio Tankers had a negative return on equity of 5.50% and a negative net margin of 16.52%. The company had revenue of $136.07 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year.

Several brokerages recently issued reports on STNG. Zacks Investment Research raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. B. Riley set a $40.00 target price on shares of Scorpio Tankers and gave the stock a “buy” rating in a research note on Tuesday, September 24th. ValuEngine downgraded shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and boosted their price target for the stock from $32.00 to $37.00 in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $36.33.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Investec Asset Management LTD boosted its holdings in shares of Scorpio Tankers by 0.7% in the second quarter. Investec Asset Management LTD now owns 1,859,622 shares of the shipping company’s stock valued at $54,896,000 after buying an additional 12,311 shares during the period. Russell Investments Group Ltd. raised its position in shares of Scorpio Tankers by 153.5% in the third quarter. Russell Investments Group Ltd. now owns 578,309 shares of the shipping company’s stock valued at $17,209,000 after purchasing an additional 350,188 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Scorpio Tankers in the second quarter valued at about $13,497,000. Northern Trust Corp raised its position in shares of Scorpio Tankers by 3.4% in the second quarter. Northern Trust Corp now owns 434,770 shares of the shipping company’s stock valued at $12,834,000 after purchasing an additional 14,155 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Scorpio Tankers by 76.3% in the second quarter. Renaissance Technologies LLC now owns 413,320 shares of the shipping company’s stock valued at $12,201,000 after acquiring an additional 178,900 shares in the last quarter. 57.55% of the stock is owned by institutional investors and hedge funds.

NYSE STNG opened at $29.91 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.15 and a quick ratio of 1.13. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -6.56 and a beta of 1.04. The company’s fifty day moving average is $32.39 and its two-hundred day moving average is $28.26. Scorpio Tankers has a 52-week low of $15.00 and a 52-week high of $36.85.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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