Scorpio Tankers Inc. (NYSE:STNG - Free Report) - B. Riley dropped their Q3 2024 earnings per share (EPS) estimates for Scorpio Tankers in a research report issued to clients and investors on Thursday, October 24th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $1.27 for the quarter, down from their previous forecast of $1.46. The consensus estimate for Scorpio Tankers' current full-year earnings is $12.43 per share. B. Riley also issued estimates for Scorpio Tankers' FY2025 earnings at $9.38 EPS.
Several other equities analysts also recently weighed in on the company. Evercore ISI raised their target price on Scorpio Tankers from $99.00 to $100.00 and gave the company an "outperform" rating in a research report on Tuesday, July 23rd. Bank of America reduced their price objective on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a research report on Tuesday. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $90.00 to $65.00 in a research report on Wednesday. StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $82.40.
View Our Latest Research Report on Scorpio Tankers
Scorpio Tankers Price Performance
Shares of NYSE STNG traded up $0.69 during midday trading on Friday, hitting $62.02. The stock had a trading volume of 592,680 shares, compared to its average volume of 905,779. The company has a market capitalization of $3.38 billion, a PE ratio of 5.75, a P/E/G ratio of 1.81 and a beta of 0.15. The stock has a 50 day simple moving average of $69.32 and a 200-day simple moving average of $74.15. Scorpio Tankers has a 1 year low of $52.68 and a 1 year high of $84.67. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.
Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.52 by $0.08. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. Scorpio Tankers's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.41 earnings per share.
Institutional Investors Weigh In On Scorpio Tankers
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock worth $25,000 after acquiring an additional 291 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock valued at $34,000 after buying an additional 319 shares in the last quarter. Quarry LP grew its stake in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company's stock valued at $54,000 after buying an additional 229 shares in the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock valued at $57,000 after buying an additional 177 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Scorpio Tankers in the first quarter valued at $58,000. Institutional investors and hedge funds own 54.64% of the company's stock.
Scorpio Tankers Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 annualized dividend and a yield of 2.58%. Scorpio Tankers's dividend payout ratio (DPR) is 14.84%.
About Scorpio Tankers
(
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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.
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