Scorpio Tankers Inc. (NYSE:STNG) Plans $0.40 Quarterly Dividend

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) announced a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Friday, November 22nd will be given a dividend of 0.40 per share by the shipping company on Friday, December 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, November 22nd.

Scorpio Tankers has increased its dividend by an average of 38.0% annually over the last three years. Scorpio Tankers has a payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Scorpio Tankers to earn $9.11 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 17.6%.

Scorpio Tankers Price Performance

STNG traded down $1.25 during trading on Wednesday, reaching $58.07. 1,372,246 shares of the stock were exchanged, compared to its average volume of 917,934. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 5.41 and a beta of 0.15. Scorpio Tankers has a 1 year low of $52.68 and a 1 year high of $84.67. The business's 50 day moving average price is $68.85 and its two-hundred day moving average price is $74.06.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same period in the previous year, the firm earned $1.91 EPS. The business's revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Scorpio Tankers will post 11.46 earnings per share for the current year.

Analyst Ratings Changes

STNG has been the topic of a number of recent research reports. Evercore ISI reduced their target price on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Stifel Nicolaus lowered Scorpio Tankers from a "buy" rating to a "hold" rating and dropped their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Scorpio Tankers has a consensus rating of "Hold" and a consensus target price of $78.40.

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.