FY2024 EPS Estimates for Scorpio Tankers Boosted by B. Riley

Scorpio Tankers Inc. (NYSE:STNG - Free Report) - Equities research analysts at B. Riley boosted their FY2024 earnings per share (EPS) estimates for shares of Scorpio Tankers in a research report issued on Tuesday, October 29th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $10.48 for the year, up from their prior estimate of $10.29. The consensus estimate for Scorpio Tankers' current full-year earnings is $11.23 per share. B. Riley also issued estimates for Scorpio Tankers' Q4 2024 earnings at $1.14 EPS and FY2025 earnings at $10.20 EPS.

Several other research analysts also recently commented on STNG. Evercore ISI reduced their target price on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday. Bank of America reduced their target price on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Jefferies Financial Group reiterated a "buy" rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday. Fearnley Fonds upgraded Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Finally, StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $78.40.

Scorpio Tankers Stock Up 0.2 %

Shares of NYSE:STNG traded up $0.12 during trading on Friday, hitting $58.39. 790,032 shares of the company were exchanged, compared to its average volume of 917,008. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 4.16 and a beta of 0.15. Scorpio Tankers has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The firm has a fifty day moving average price of $68.35 and a two-hundred day moving average price of $73.84. The company has a current ratio of 2.21, a quick ratio of 2.63 and a debt-to-equity ratio of 0.27.

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

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.40 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 2.74%. Scorpio Tankers's dividend payout ratio (DPR) is presently 11.47%.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently modified their holdings of STNG. Janney Montgomery Scott LLC bought a new stake in Scorpio Tankers during the first quarter worth $596,000. BNP Paribas Financial Markets lifted its stake in Scorpio Tankers by 37.0% during the first quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company's stock worth $6,356,000 after purchasing an additional 23,975 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Scorpio Tankers by 101.4% during the first quarter. Acadian Asset Management LLC now owns 19,456 shares of the shipping company's stock worth $1,391,000 after purchasing an additional 9,798 shares during the last quarter. Cetera Investment Advisers bought a new stake in Scorpio Tankers during the first quarter worth $2,107,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Scorpio Tankers by 354.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,439 shares of the shipping company's stock worth $3,896,000 after purchasing an additional 42,451 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

About Scorpio Tankers

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.