Analysts Issue Forecasts for Scorpio Tankers Inc.’s Q2 2024 Earnings (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNGFree Report) – Research analysts at B. Riley decreased their Q2 2024 EPS estimates for shares of Scorpio Tankers in a research note issued on Thursday, April 11th. B. Riley analyst L. Burke now expects that the shipping company will post earnings of $2.16 per share for the quarter, down from their prior estimate of $2.33. The consensus estimate for Scorpio Tankers’ current full-year earnings is $12.30 per share. B. Riley also issued estimates for Scorpio Tankers’ FY2025 earnings at $10.59 EPS.

Scorpio Tankers (NYSE:STNGGet Free Report) last released its earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The company had revenue of $336.30 million for the quarter, compared to analysts’ expectations of $335.70 million. During the same quarter in the previous year, the company earned $4.24 EPS. Scorpio Tankers’s revenue for the quarter was down 31.9% on a year-over-year basis.

A number of other research firms also recently weighed in on STNG. JPMorgan Chase & Co. boosted their target price on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Jefferies Financial Group restated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Wednesday, February 14th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Evercore ISI upped their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.00.

View Our Latest Stock Analysis on STNG

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $70.97 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. The company has a market cap of $3.77 billion, a P/E ratio of 7.14 and a beta of 0.21. The firm’s fifty day moving average is $69.33 and its two-hundred day moving average is $62.60. Scorpio Tankers has a 52-week low of $40.34 and a 52-week high of $74.04.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s dividend payout ratio is presently 16.10%.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Scorpio Tankers by 34.8% during the first quarter. International Assets Investment Management LLC now owns 21,517 shares of the shipping company’s stock worth $1,565,000 after buying an additional 5,550 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Scorpio Tankers during the fourth quarter worth $740,000. Vanguard Group Inc. boosted its holdings in Scorpio Tankers by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 311,180 shares of the shipping company’s stock worth $18,920,000 after buying an additional 19,662 shares in the last quarter. Wellington Management Group LLP purchased a new position in Scorpio Tankers during the fourth quarter valued at $899,000. Finally, Twin Focus Capital Partners LLC purchased a new position in Scorpio Tankers during the fourth quarter valued at $5,115,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

About Scorpio Tankers

(Get Free Report)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.

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