Q2 2022 EPS Estimates for Scorpio Tankers Inc. Increased by B. Riley (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNGGet Rating) – Equities researchers at B. Riley raised their Q2 2022 earnings per share estimates for Scorpio Tankers in a report issued on Wednesday, June 1st. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $1.52 per share for the quarter, up from their prior estimate of $1.18.

Scorpio Tankers (NYSE:STNGGet Rating) last released its earnings results on Thursday, April 28th. The shipping company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.31. Scorpio Tankers had a negative return on equity of 10.00% and a negative net margin of 44.17%. The company had revenue of $174.00 million during the quarter, compared to analysts’ expectations of $158.43 million. During the same period last year, the firm earned ($1.05) EPS. The business’s revenue for the quarter was up 29.7% on a year-over-year basis.

STNG has been the subject of a number of other reports. StockNews.com raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, April 28th. Jefferies Financial Group began coverage on Scorpio Tankers in a research note on Wednesday, April 27th. They set a “buy” rating and a $27.00 price objective for the company. Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. HC Wainwright lifted their target price on Scorpio Tankers from $28.00 to $38.00 in a report on Friday, April 29th. Finally, BTIG Research boosted their price target on Scorpio Tankers from $31.00 to $42.00 and gave the company a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.28.

Shares of Scorpio Tankers stock opened at $35.19 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 1.08. Scorpio Tankers has a 12 month low of $11.02 and a 12 month high of $36.89. The business has a fifty day simple moving average of $25.46 and a 200 day simple moving average of $18.55. The stock has a market cap of $2.05 billion, a PE ratio of -7.55 and a beta of 0.51.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STNG. Counterpoint Mutual Funds LLC acquired a new position in Scorpio Tankers during the fourth quarter worth approximately $28,000. Wilen Investment Management CORP. acquired a new position in Scorpio Tankers during the third quarter worth approximately $61,000. International Assets Investment Management LLC acquired a new position in Scorpio Tankers during the first quarter worth approximately $215,000. ProShare Advisors LLC acquired a new position in Scorpio Tankers during the fourth quarter worth approximately $136,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Scorpio Tankers during the fourth quarter worth approximately $145,000. Institutional investors and hedge funds own 42.80% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, May 20th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $0.40 annualized dividend and a yield of 1.14%. Scorpio Tankers’s payout ratio is presently -8.58%.

Scorpio Tankers Company Profile (Get Rating)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.

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