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

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.40 per share by the shipping company on Friday, March 21st. This represents a $1.60 annualized dividend and a yield of 3.63%. The ex-dividend date is Friday, March 7th.

Scorpio Tankers has increased its dividend payment by an average of 58.7% per year over the last three years. Scorpio Tankers has a dividend payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Scorpio Tankers to earn $4.86 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 32.9%.

Scorpio Tankers Stock Down 1.2 %

Scorpio Tankers stock traded down $0.53 on Monday, hitting $44.13. 1,147,005 shares of the stock traded hands, compared to its average volume of 1,023,026. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.23 billion, a P/E ratio of 3.16 and a beta of 0.08. The business's fifty day simple moving average is $49.24 and its 200 day simple moving average is $59.24. Scorpio Tankers has a 1 year low of $43.32 and a 1 year high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. As a group, sell-side analysts forecast that Scorpio Tankers will post 9.88 earnings per share for the current year.

Analysts Set New Price Targets

STNG has been the subject of a number of recent research reports. Jefferies Financial Group restated a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a research note on Thursday. Evercore ISI cut their price target on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus cut their price target on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday. Finally, Bank of America cut their price objective 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. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.75.

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.