Scorpio Tankers Inc. (NYSE:STNG) – Seaport Global Securities reduced their Q1 2018 earnings per share estimates for shares of Scorpio Tankers in a note issued to investors on Thursday. Seaport Global Securities analyst M. Fyhr now anticipates that the shipping company will earn $0.13 per share for the quarter, down from their prior estimate of $0.14. Seaport Global Securities also issued estimates for Scorpio Tankers’ Q3 2018 earnings at $0.15 EPS.
STNG has been the topic of a number of other reports. Stifel Nicolaus set a $8.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub raised Scorpio Tankers from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Jefferies Group LLC reissued a “buy” rating and issued a $5.50 price target on shares of Scorpio Tankers in a report on Tuesday, October 31st. Morgan Stanley lowered their price target on Scorpio Tankers from $5.50 to $5.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Zacks Investment Research cut 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 issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $6.44.
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Scorpio Tankers (NYSE STNG) opened at $3.40 on Monday. Scorpio Tankers has a 12-month low of $3.20 and a 12-month high of $4.93. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.
Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, November 16th. The shipping company reported ($0.15) earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $129.54 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 5.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock worth $57,839,000 after acquiring an additional 875,100 shares during the last quarter. Monarch Alternative Capital LP bought a new stake in Scorpio Tankers in the 3rd quarter worth approximately $32,371,000. FMR LLC increased its stake in Scorpio Tankers by 160.9% in the 2nd quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock worth $29,710,000 after acquiring an additional 4,615,440 shares during the last quarter. Lasry Marc bought a new stake in Scorpio Tankers in the 3rd quarter worth approximately $19,205,000. Finally, Bank of New York Mellon Corp increased its stake in Scorpio Tankers by 656.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,850,603 shares of the shipping company’s stock worth $16,637,000 after acquiring an additional 4,209,596 shares during the last quarter. 56.33% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s payout ratio is -5.06%.
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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