Scorpio Tankers (STNG) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Scorpio Tankers (NYSE:STNG) released its earnings results on Wednesday. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02), Briefing.com reports. The company had revenue of $156.50 million for the quarter, compared to analyst estimates of $154.72 million. Scorpio Tankers had a negative return on equity of 6.73% and a negative net margin of 30.86%. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share.

Shares of STNG traded up $0.34 during mid-day trading on Wednesday, reaching $2.71. 7,582,350 shares of the company were exchanged, compared to its average volume of 4,072,200. Scorpio Tankers has a 52 week low of $1.85 and a 52 week high of $4.60. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.34 and a quick ratio of 1.29. The company has a market capitalization of $777.09, a price-to-earnings ratio of -5.72 and a beta of 1.39.

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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Stockholders of record on Monday, March 12th were given a dividend of $0.01 per share. The ex-dividend date was Friday, March 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.48%. Scorpio Tankers’s dividend payout ratio (DPR) is -8.51%.



Several analysts recently weighed in on the company. Morgan Stanley dropped their price objective on Scorpio Tankers from $3.50 to $3.00 and set an “overweight” rating for the company in a research report on Wednesday. DNB Markets upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Tuesday, April 3rd. Credit Suisse Group dropped their target price on Scorpio Tankers from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Finally, Stifel Nicolaus set a $5.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Scorpio Tankers has an average rating of “Buy” and an average price target of $4.97.

Institutional investors and hedge funds have recently modified their holdings of the company. OppenheimerFunds Inc. raised its position in shares of Scorpio Tankers by 35.0% during the fourth quarter. OppenheimerFunds Inc. now owns 83,215 shares of the shipping company’s stock worth $254,000 after acquiring an additional 21,562 shares during the last quarter. Legal & General Group Plc raised its position in shares of Scorpio Tankers by 66.2% during the third quarter. Legal & General Group Plc now owns 85,648 shares of the shipping company’s stock worth $296,000 after acquiring an additional 34,129 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Scorpio Tankers by 867.2% during the fourth quarter. Renaissance Technologies LLC now owns 182,800 shares of the shipping company’s stock worth $558,000 after acquiring an additional 163,900 shares during the last quarter. Caxton Associates LP raised its position in shares of Scorpio Tankers by 125.0% during the fourth quarter. Caxton Associates LP now owns 225,000 shares of the shipping company’s stock worth $686,000 after acquiring an additional 125,000 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Scorpio Tankers by 17.8% during the third quarter. California State Teachers Retirement System now owns 344,143 shares of the shipping company’s stock worth $1,180,000 after acquiring an additional 51,909 shares during the last quarter. Institutional investors own 64.64% of the company’s stock.

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About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

Earnings History for Scorpio Tankers (NYSE:STNG)

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