Scorpio Tankers Inc. (NYSE:STNG) to Post Q1 2023 Earnings of $1.24 Per Share, Jefferies Financial Group Forecasts

Scorpio Tankers Inc. (NYSE:STNGGet Rating) – Equities researchers at Jefferies Financial Group issued their Q1 2023 earnings per share estimates for Scorpio Tankers in a note issued to investors on Thursday, July 28th. Jefferies Financial Group analyst O. Nokta expects that the shipping company will post earnings per share of $1.24 for the quarter. Jefferies Financial Group has a “Maintains” rating on the stock. The consensus estimate for Scorpio Tankers’ current full-year earnings is $4.03 per share. Jefferies Financial Group also issued estimates for Scorpio Tankers’ Q1 2024 earnings at $1.44 EPS and Q2 2024 earnings at $1.49 EPS.

Other research analysts also recently issued research reports about the company. BTIG Research reiterated a “maintains” rating on shares of Scorpio Tankers in a report on Friday. TheStreet upgraded Scorpio Tankers from a “d+” rating to a “c” rating in a report on Thursday. Stifel Nicolaus raised their target price on Scorpio Tankers from $39.00 to $43.00 in a research note on Tuesday, July 19th. HC Wainwright raised their target price on Scorpio Tankers from $28.00 to $38.00 in a research note on Friday, April 29th. Finally, B. Riley raised their target price on Scorpio Tankers from $45.00 to $50.00 in a research note on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.06.

Scorpio Tankers Stock Down 0.3 %

STNG opened at $38.61 on Monday. The company has a market cap of $2.25 billion, a P/E ratio of -8.29 and a beta of 0.47. The business’s 50-day moving average price is $35.18 and its 200-day moving average price is $25.03. The company has a current ratio of 1.16, a quick ratio of 1.13 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 $42.01.

Scorpio Tankers (NYSE:STNGGet Rating) last released its quarterly earnings data on Thursday, July 28th. The shipping company reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. The firm had revenue of $405.80 million for the quarter, compared to the consensus estimate of $333.11 million. Scorpio Tankers had a negative return on equity of 10.00% and a negative net margin of 44.17%. The company’s quarterly revenue was up 191.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.94) earnings per share.

Institutional Trading of Scorpio Tankers

Large investors have recently bought and sold shares of the company. Schroder Investment Management Group boosted its position 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 valued at $1,008,000 after acquiring an additional 15,306 shares in the last quarter. Shepherd Kaplan Krochuk LLC boosted its position in Scorpio Tankers by 197.4% during the 4th quarter. Shepherd Kaplan Krochuk LLC now owns 150,047 shares of the shipping company’s stock valued at $1,922,000 after acquiring an additional 99,600 shares in the last quarter. TCW Group Inc. boosted its position in Scorpio Tankers by 7.6% during the 1st quarter. TCW Group Inc. now owns 423,040 shares of the shipping company’s stock valued at $9,045,000 after acquiring an additional 30,000 shares in the last quarter. Royce & Associates LP boosted its position in Scorpio Tankers by 22.8% during the 4th quarter. Royce & Associates LP now owns 595,276 shares of the shipping company’s stock valued at $7,625,000 after acquiring an additional 110,600 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Scorpio Tankers during the 1st quarter valued at approximately $215,000. 42.80% of the stock is owned by institutional investors.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 11th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, August 10th. This represents a $0.40 annualized dividend and a yield of 1.04%. Scorpio Tankers’s payout ratio is -8.58%.

About Scorpio Tankers

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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.

See Also

Earnings History and Estimates for Scorpio Tankers (NYSE:STNG)

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