FY2024 EPS Estimates for Scorpio Tankers Reduced by Analyst

Scorpio Tankers Inc. (NYSE:STNG - Free Report) - Investment analysts at B. Riley dropped their FY2024 earnings estimates for shares of Scorpio Tankers in a report released on Wednesday, January 15th. B. Riley analyst L. Burke now expects that the shipping company will post earnings of $9.67 per share for the year, down from their previous forecast of $10.48. The consensus estimate for Scorpio Tankers' current full-year earnings is $11.04 per share. B. Riley also issued estimates for Scorpio Tankers' Q4 2024 earnings at $0.34 EPS and FY2025 earnings at $4.12 EPS.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.14. The firm had revenue of $267.99 million during the quarter, compared to analysts' expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company's quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.91 EPS.

STNG has been the subject of a number of other research reports. Bank of America cut their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI lowered their price target on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group lowered their target price on Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $75.40.

Scorpio Tankers Price Performance

STNG traded down $1.86 on Friday, hitting $52.57. 314,854 shares of the stock were exchanged, compared to its average volume of 1,065,824. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 3.77 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. Scorpio Tankers has a 12 month low of $45.94 and a 12 month high of $84.67. The business has a 50-day moving average of $51.20 and a two-hundred day moving average of $63.97.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STNG. Mountaineer Partners Management LLC increased its position in Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company's stock valued at $596,912,000 after acquiring an additional 8,252,691 shares during the period. International Assets Investment Management LLC grew its stake in shares of Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company's stock worth $134,057,000 after purchasing an additional 1,857,668 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Scorpio Tankers by 882.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock valued at $10,020,000 after purchasing an additional 181,135 shares during the period. Barclays PLC raised its position in Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after purchasing an additional 168,866 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Scorpio Tankers during the 3rd quarter worth about $8,459,000. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, November 22nd. Scorpio Tankers's payout ratio is 11.47%.

Scorpio Tankers Company Profile

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.