Scorpio Tankers (NYSE:STNG) Posts Earnings Results, Beats Estimates By $0.14 EPS

Scorpio Tankers (NYSE:STNGGet Free Report) issued its quarterly earnings data on Tuesday. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14, Briefing.com reports. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.91 EPS.

Scorpio Tankers Stock Performance

Shares of NYSE:STNG traded up $0.85 during trading on Thursday, hitting $58.92. 86,326 shares of the stock were exchanged, compared to its average volume of 914,002. Scorpio Tankers has a 1-year low of $52.68 and a 1-year high of $84.67. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 5.39 and a beta of 0.15. The company’s fifty day simple moving average is $68.60 and its 200-day simple moving average is $73.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is presently 14.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on STNG shares. Evercore ISI lowered their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Bank of America lowered their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and an average target price of $78.40.

Read Our Latest Stock Report 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.

Featured Stories

Earnings History for Scorpio Tankers (NYSE:STNG)

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