B. Riley Forecasts Scorpio Tankers’ Q3 Earnings (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNG) – Stock analysts at B. Riley reduced their Q3 2024 earnings per share (EPS) estimates for shares of Scorpio Tankers in a report issued on Thursday, October 24th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $1.27 for the quarter, down from their prior forecast of $1.46. The consensus estimate for Scorpio Tankers’ current full-year earnings is $12.43 per share. B. Riley also issued estimates for Scorpio Tankers’ FY2025 earnings at $9.38 EPS.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. The business had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm earned $2.41 earnings per share.

Several other brokerages have also recently issued reports on STNG. Evercore ISI lifted their target price on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Bank of America reduced their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $90.00 to $65.00 in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Scorpio Tankers has an average rating of “Hold” and a consensus price target of $82.40.

Scorpio Tankers Price Performance

NYSE:STNG opened at $61.33 on Friday. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The business’s 50-day simple moving average is $69.55 and its two-hundred day simple moving average is $74.21. The stock has a market cap of $3.35 billion, a PE ratio of 5.69, a P/E/G ratio of 1.81 and a beta of 0.15. Scorpio Tankers has a 52 week low of $52.68 and a 52 week high of $84.67.

Institutional Trading of Scorpio Tankers

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares during the period. Fifth Third Bancorp lifted its holdings in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares during the period. Quarry LP lifted its holdings in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after buying an additional 229 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after buying an additional 177 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in Scorpio Tankers during the first quarter worth $58,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.61%. Scorpio Tankers’s payout ratio is 14.84%.

Scorpio Tankers Company Profile

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.