Scorpio Tankers (NYSE:STNG) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Scorpio Tankers (NYSE:STNG) announced its quarterly earnings results on Wednesday. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08), Zacks reports. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%.

Scorpio Tankers Stock Down 0.2 %

Scorpio Tankers stock opened at $44.57 on Friday. Scorpio Tankers has a fifty-two week low of $44.00 and a fifty-two week 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. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 3.19 and a beta of 0.08. The company’s 50 day simple moving average is $49.52 and its 200 day simple moving average is $60.03.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.59%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on STNG. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a report on Thursday. Evercore ISI decreased their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Bank of America cut their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.