Scorpio Tankers Inc. (NYSE:STNG) released its earnings results on Thursday. The shipping company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04), Briefing.com reports. Scorpio Tankers had a negative return on equity of 5.63% and a negative net margin of 29.58%. The firm had revenue of $123.20 million for the quarter, compared to the consensus estimate of $129.54 million. During the same period in the prior year, the business earned ($0.11) EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis.
Shares of Scorpio Tankers (STNG) traded up $0.06 during midday trading on Friday, hitting $3.40. The company had a trading volume of 5,357,586 shares, compared to its average volume of 3,094,345. Scorpio Tankers has a 1-year low of $3.20 and a 1-year high of $4.93. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.36.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio (DPR) is -5.00%.
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A number of research analysts have commented on the company. Stifel Nicolaus set a $8.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, August 28th. BidaskClub downgraded Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $5.50 target price (down previously from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Credit Suisse Group set a $7.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $6.44.
About Scorpio Tankers
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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