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

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Friday, March 7th will be given a dividend of 0.40 per share by the shipping company on Friday, March 21st. This represents a $1.60 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, March 7th.

Scorpio Tankers has increased its dividend by an average of 58.7% per year over the last three years. Scorpio Tankers has a dividend payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

STNG stock traded down $3.08 during midday trading on Thursday, reaching $44.78. The company had a trading volume of 1,854,719 shares, compared to its average volume of 1,070,966. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 3.21 and a beta of 0.08. The stock has a 50 day moving average price of $49.52 and a 200-day moving average price of $60.03. Scorpio Tankers has a 1-year low of $44.00 and a 1-year high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Equities research analysts expect that Scorpio Tankers will post 9.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on STNG shares. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI lowered their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Bank of America reduced 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. Finally, Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $72.75.

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.