Zacks: Brokerages Expect Scorpio Tankers Inc. (STNG) to Post -$0.05 Earnings Per Share

Wall Street brokerages expect Scorpio Tankers Inc. (NASDAQ:STNG) to report earnings of ($0.05) per share for the current quarter, according to Zacks. Four analysts have made estimates for Scorpio Tankers’ earnings, with the lowest EPS estimate coming in at ($0.09) and the highest estimate coming in at ($0.03). Scorpio Tankers reported earnings per share of $0.04 in the same quarter last year, which would suggest a negative year over year growth rate of 225%. The firm is expected to issue its next quarterly earnings results on Thursday, August 3rd.

On average, analysts expect that Scorpio Tankers will report full year earnings of $0.05 per share for the current fiscal year, with EPS estimates ranging from ($0.24) to $0.74. For the next financial year, analysts expect that the company will post earnings of $0.65 per share, with EPS estimates ranging from $0.36 to $1.28. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Scorpio Tankers.

A number of analysts have issued reports on STNG shares. Seaport Global Securities reiterated a “buy” rating and set a $7.50 price target on shares of Scorpio Tankers in a research note on Thursday, May 25th. Credit Suisse Group set a $7.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $5.50 price target (down from $6.00) on shares of Scorpio Tankers in a research note on Saturday, July 22nd. BidaskClub lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Cowen and Company reiterated an “outperform” rating and set a $7.00 price target (down from $10.00) on shares of Scorpio Tankers in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $6.44.

Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank raised its stake in Scorpio Tankers by 0.3% in the first quarter. Comerica Bank now owns 3,144,642 shares of the shipping company’s stock worth $14,372,000 after buying an additional 8,220 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Scorpio Tankers by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 573,107 shares of the shipping company’s stock worth $2,544,000 after buying an additional 36,402 shares during the last quarter. Boston Partners raised its stake in Scorpio Tankers by 47.6% in the first quarter. Boston Partners now owns 4,782,108 shares of the shipping company’s stock worth $21,233,000 after buying an additional 1,542,838 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Scorpio Tankers by 48.8% in the first quarter. Russell Investments Group Ltd. now owns 1,739,458 shares of the shipping company’s stock worth $7,721,000 after buying an additional 570,834 shares during the last quarter. Finally, Malaga Cove Capital LLC raised its stake in Scorpio Tankers by 479.9% in the first quarter. Malaga Cove Capital LLC now owns 147,862 shares of the shipping company’s stock worth $648,000 after buying an additional 122,362 shares during the last quarter.

Shares of Scorpio Tankers (NASDAQ:STNG) opened at 3.67 on Friday. The stock has a 50 day moving average of $3.81 and a 200 day moving average of $4.01. Scorpio Tankers has a 12-month low of $3.42 and a 12-month high of $5.53. The company’s market cap is $597.15 million.

ILLEGAL ACTIVITY WARNING: “[[title]]” was first posted by [[site]] and is the property of of [[site]]. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at [[permalink]].

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).

Get a free copy of the Zacks research report on Scorpio Tankers (STNG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com