Scorpio Tankers (NYSE:STNG - Get Free Report) released its quarterly earnings results on Tuesday. The shipping company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.61 by $0.14, Briefing.com reports. 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 the consensus estimate of $267.91 million. During the same period in the prior year, the company posted $1.91 earnings per share. Scorpio Tankers's revenue was down 8.0% compared to the same quarter last year.
Scorpio Tankers Trading Down 2.1 %
Shares of Scorpio Tankers stock traded down $1.25 during midday trading on Wednesday, reaching $58.07. The company had a trading volume of 1,372,246 shares, compared to its average volume of 917,934. The stock has a fifty day moving average price of $68.85 and a 200 day moving average price of $74.06. Scorpio Tankers has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The firm has a market cap of $3.17 billion, a PE ratio of 5.41 and a beta of 0.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63.
Scorpio Tankers Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 2.76%. Scorpio Tankers's payout ratio is 14.84%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on STNG. StockNews.com cut Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Jefferies Financial Group restated a "buy" rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday. Bank of America lowered their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research report on Tuesday, October 22nd. Evercore ISI dropped their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $78.40.
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Scorpio Tankers Company Profile
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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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