According to Zacks, “Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. The Company’s initial fleet consists of three modern panamax tankers. Its vessels carry petroleum products and crude oil for integrated oil companies, oil traders, and other customers. Scorpio Tankers Inc. is headquartered in Monaco, Scorpio. “
A number of other equities analysts also recently issued reports on STNG. ValuEngine raised Scorpio Tankers from a buy rating to a strong-buy rating in a report on Saturday, January 19th. JPMorgan Chase & Co. downgraded Scorpio Tankers from an overweight rating to a neutral rating and set a $23.00 price target for the company. in a report on Wednesday, January 23rd. Finally, B. Riley raised Scorpio Tankers from a neutral rating to a buy rating and upped their price target for the company from $22.00 to $25.00 in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Scorpio Tankers presently has a consensus rating of Buy and a consensus target price of $30.25.
Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, February 14th. The shipping company reported ($0.38) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.09. The firm had revenue of $167.53 million during the quarter, compared to the consensus estimate of $154.31 million. Scorpio Tankers had a negative return on equity of 9.51% and a negative net margin of 32.49%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) earnings per share. On average, analysts predict that Scorpio Tankers will post -0.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, February 13th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, February 12th. Scorpio Tankers’s dividend payout ratio is currently -8.77%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in Scorpio Tankers by 35.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,728 shares of the shipping company’s stock valued at $28,000 after buying an additional 4,138 shares during the last quarter. Prudential Financial Inc. lifted its stake in Scorpio Tankers by 53.1% in the fourth quarter. Prudential Financial Inc. now owns 29,072 shares of the shipping company’s stock valued at $51,000 after buying an additional 10,080 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in Scorpio Tankers in the fourth quarter valued at approximately $61,000. Amalgamated Bank lifted its stake in Scorpio Tankers by 36.4% in the fourth quarter. Amalgamated Bank now owns 54,036 shares of the shipping company’s stock valued at $95,000 after buying an additional 14,407 shares during the last quarter. Finally, Tdam USA Inc. raised its stake in shares of Scorpio Tankers by 20.2% during the fourth quarter. Tdam USA Inc. now owns 134,149 shares of the shipping company’s stock worth $236,000 after purchasing an additional 22,500 shares during the last quarter.
Scorpio Tankers Company Profile
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.
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