Scorpio Tankers Inc. (NYSE:STNG) – Analysts at Seaport Global Securities cut their Q4 2018 earnings per share (EPS) estimates for Scorpio Tankers in a research note issued on Thursday, Zacks Investment Research reports. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.14. Seaport Global Securities also issued estimates for Scorpio Tankers’ Q1 2019 earnings at $0.14 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.14 EPS, Q4 2019 earnings at $0.14 EPS and FY2019 earnings at $0.54 EPS.
Several other equities analysts also recently commented on the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $7.00 target price on shares of Scorpio Tankers in a research report on Tuesday, September 19th. BidaskClub downgraded Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Friday, October 27th. Stifel Nicolaus reduced their price target on Scorpio Tankers from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, November 29th. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Morgan Stanley reduced their price target on Scorpio Tankers from $5.50 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. Three research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. Scorpio Tankers currently has an average rating of “Buy” and an average price target of $6.28.
Scorpio Tankers (STNG) traded down $0.09 during trading on Monday, hitting $3.14. The stock had a trading volume of 3,910,000 shares, compared to its average volume of 3,260,000. Scorpio Tankers has a 52 week low of $2.99 and a 52 week high of $4.79. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $990.97, a P/E ratio of -3.97 and a beta of 1.59.
Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, November 16th. The shipping company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The firm had revenue of $123.20 million during the quarter, compared to analyst estimates of $129.54 million. During the same period in the previous year, the company posted ($0.11) EPS. Scorpio Tankers’s revenue for the quarter was up 7.8% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio is currently -5.06%.
A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Scorpio Tankers by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock worth $57,839,000 after purchasing an additional 875,100 shares during the last quarter. Monarch Alternative Capital LP bought a new stake in Scorpio Tankers during the third quarter worth $32,371,000. FMR LLC lifted its stake in Scorpio Tankers by 160.9% during the second quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock worth $29,710,000 after purchasing an additional 4,615,440 shares during the last quarter. Lasry Marc bought a new stake in Scorpio Tankers during the third quarter worth $19,205,000. Finally, Bank of New York Mellon Corp lifted its stake in Scorpio Tankers by 656.7% during the third quarter. Bank of New York Mellon Corp now owns 4,850,603 shares of the shipping company’s stock worth $16,637,000 after purchasing an additional 4,209,596 shares during the last quarter. 59.04% of the stock is currently owned by institutional investors and hedge funds.
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Scorpio Tankers Company Profile
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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