Scorpio Tankers Inc. (NYSE:STNG) Expected to Post Earnings of $1.92 Per Share

Equities research analysts expect Scorpio Tankers Inc. (NYSE:STNGGet Rating) to report $1.92 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Scorpio Tankers’ earnings, with the highest EPS estimate coming in at $3.26 and the lowest estimate coming in at $1.34. Scorpio Tankers reported earnings per share of ($0.94) during the same quarter last year, which would indicate a positive year-over-year growth rate of 304.3%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Scorpio Tankers will report full-year earnings of $2.93 per share for the current fiscal year, with EPS estimates ranging from ($0.11) to $6.04. For the next financial year, analysts forecast that the business will report earnings of $2.84 per share, with EPS estimates ranging from $2.00 to $3.89. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Scorpio Tankers.

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

STNG has been the topic of a number of analyst reports. Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. HC Wainwright increased their price objective on Scorpio Tankers from $28.00 to $38.00 in a research note on Friday, April 29th. BTIG Research increased their price target on Scorpio Tankers from $31.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, June 2nd. B. Riley increased their price objective on Scorpio Tankers from $35.00 to $45.00 in a report on Wednesday, June 1st. Finally, StockNews.com upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $27.28.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group boosted its stake in Scorpio Tankers by 24.1% during the 4th quarter. Schroder Investment Management Group now owns 78,737 shares of the shipping company’s stock worth $1,008,000 after purchasing an additional 15,306 shares during the period. Geode Capital Management LLC increased its holdings in shares of Scorpio Tankers by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 421,873 shares of the shipping company’s stock valued at $7,821,000 after purchasing an additional 38,824 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $298,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Scorpio Tankers by 24.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 121,291 shares of the shipping company’s stock valued at $1,554,000 after purchasing an additional 24,000 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $606,000. Institutional investors own 42.80% of the company’s stock.

Scorpio Tankers stock opened at $37.50 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.13 and a current ratio of 1.16. Scorpio Tankers has a 52 week low of $11.02 and a 52 week high of $37.71. The stock has a market capitalization of $2.19 billion, a P/E ratio of -8.01 and a beta of 0.52. The stock has a fifty day moving average of $26.73 and a 200-day moving average of $19.12.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, May 20th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, May 19th. Scorpio Tankers’s payout ratio is currently -8.58%.

About Scorpio Tankers (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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