Scorpio Tankers (NYSE:STNG) Announces Earnings Results

Scorpio Tankers (NYSE:STNG) released its quarterly earnings results on Wednesday. The shipping company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.09, Briefing.com reports. The business had revenue of $150.80 million during the quarter, compared to analyst estimates of $148.88 million. Scorpio Tankers had a negative return on equity of 5.56% and a negative net margin of 16.52%. Scorpio Tankers’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) EPS.

Shares of STNG stock traded up $0.09 during midday trading on Friday, reaching $25.31. 737,326 shares of the stock were exchanged, compared to its average volume of 560,860. Scorpio Tankers has a 1 year low of $14.75 and a 1 year high of $30.87. The company has a 50 day simple moving average of $27.97. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.46 and a current ratio of 1.48. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -5.55 and a beta of 1.07.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, September 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.58%. Scorpio Tankers’s dividend payout ratio (DPR) is -8.77%.

Hedge funds have recently bought and sold shares of the business. Advisor Group Inc. raised its stake in shares of Scorpio Tankers by 496.1% during the second quarter. Advisor Group Inc. now owns 912 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 759 shares in the last quarter. Aperio Group LLC bought a new stake in shares of Scorpio Tankers during the second quarter valued at approximately $103,000. BNP Paribas Arbitrage SA bought a new stake in shares of Scorpio Tankers during the second quarter valued at approximately $213,000. Investec Asset Management LTD raised its stake in shares of Scorpio Tankers by 0.7% during the second quarter. Investec Asset Management LTD now owns 1,859,622 shares of the shipping company’s stock valued at $54,896,000 after acquiring an additional 12,311 shares in the last quarter. Finally, Investec Asset Management PTY Ltd raised its stake in shares of Scorpio Tankers by 12.4% during the second quarter. Investec Asset Management PTY Ltd now owns 53,933 shares of the shipping company’s stock valued at $1,501,000 after acquiring an additional 5,933 shares in the last quarter. Hedge funds and other institutional investors own 55.42% of the company’s stock.

A number of research analysts have commented on the company. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Jefferies Financial Group set a $40.00 price target on Scorpio Tankers and gave the company a “buy” rating in a research report on Friday, June 28th. B. Riley set a $40.00 price target on Scorpio Tankers and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus upped their price target on Scorpio Tankers from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised Scorpio Tankers from a “neutral” rating to an “overweight” rating and upped their price target for the company from $29.00 to $34.00 in a research report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Scorpio Tankers currently has an average rating of “Buy” and a consensus target price of $34.71.

About Scorpio Tankers

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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Earnings History for Scorpio Tankers (NYSE:STNG)

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