Scorpio Tankers Inc. (NYSE:STNG) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $29.13, but opened at $27.82. Scorpio Tankers shares last traded at $27.66, with a volume of 56969 shares traded.
The shipping company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.18. Scorpio Tankers had a negative return on equity of 9.51% and a negative net margin of 32.49%. The company had revenue of $195.83 million for the quarter, compared to analysts’ expectations of $186.60 million. During the same period in the prior year, the firm earned ($1.02) earnings per share. The firm’s revenue was up 25.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, June 4th. Scorpio Tankers’s dividend payout ratio (DPR) is -8.77%.
Institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Scorpio Tankers by 35.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,728 shares of the shipping company’s stock worth $28,000 after acquiring an additional 4,138 shares during the period. Prudential Financial Inc. increased its holdings 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 position in Scorpio Tankers in the fourth quarter valued at $61,000. Amalgamated Bank increased its holdings 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, Quantamental Technologies LLC purchased a new position in Scorpio Tankers in the first quarter valued at $96,000.
The firm has a market cap of $1.33 billion, a P/E ratio of -6.08 and a beta of 1.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.54 and a quick ratio of 1.52.
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About Scorpio Tankers (NYSE:STNG)
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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