Scorpio Tankers Inc. (NYSE:STNG) Expected to Announce Earnings of -$0.59 Per Share

Wall Street analysts expect Scorpio Tankers Inc. (NYSE:STNGGet Rating) to report earnings per share (EPS) of ($0.59) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Scorpio Tankers’ earnings. The lowest EPS estimate is ($0.86) and the highest is ($0.37). Scorpio Tankers reported earnings of ($1.05) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 43.8%. The business is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Scorpio Tankers will report full-year earnings of ($0.02) per share for the current financial year, with EPS estimates ranging from ($0.94) to $1.18. For the next fiscal year, analysts expect that the business will post earnings of $2.24 per share, with EPS estimates ranging from $0.20 to $3.89. Zacks’ EPS averages are an average based on a survey of analysts that cover Scorpio Tankers.

Scorpio Tankers (NYSE:STNGGet Rating) last announced its quarterly earnings results on Sunday, February 13th. The shipping company reported ($0.79) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.80) by $0.01. Scorpio Tankers had a negative return on equity of 11.88% and a negative net margin of 43.35%. The firm had revenue of $147.90 million for the quarter, compared to analyst estimates of $148.19 million. During the same period last year, the firm posted ($1.04) earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis.

STNG has been the topic of a number of recent research reports. Bank of America raised Scorpio Tankers from a “neutral” rating to a “buy” rating and lifted their price target for the company from $15.50 to $23.00 in a research note on Thursday, March 3rd. StockNews.com began coverage on Scorpio Tankers in a research report on Thursday, March 31st. They set a “sell” rating for the company. BTIG Research raised their price objective on Scorpio Tankers from $24.00 to $28.00 in a research report on Wednesday, March 23rd. Finally, Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.21.

A number of hedge funds have recently modified their holdings of STNG. Norges Bank bought a new stake in Scorpio Tankers in the fourth quarter worth approximately $5,146,000. BNP Paribas Arbitrage SA raised its position in shares of Scorpio Tankers by 2,008.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 276,087 shares of the shipping company’s stock worth $3,537,000 after purchasing an additional 262,994 shares during the period. Morgan Stanley raised its position in shares of Scorpio Tankers by 38.2% during the third quarter. Morgan Stanley now owns 895,779 shares of the shipping company’s stock worth $16,608,000 after purchasing an additional 247,474 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Scorpio Tankers during the third quarter worth approximately $2,828,000. Finally, Clear Harbor Asset Management LLC raised its position in shares of Scorpio Tankers by 797.0% during the fourth quarter. Clear Harbor Asset Management LLC now owns 152,896 shares of the shipping company’s stock worth $1,959,000 after purchasing an additional 135,851 shares during the period. Institutional investors and hedge funds own 43.85% of the company’s stock.

Shares of STNG stock traded up $0.05 during mid-day trading on Thursday, reaching $21.70. 15,527 shares of the stock traded hands, compared to its average volume of 1,046,859. The stock’s fifty day simple moving average is $18.06 and its two-hundred day simple moving average is $16.05. Scorpio Tankers has a 1-year low of $11.02 and a 1-year high of $24.67. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.53 and a current ratio of 0.55.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Wednesday, March 2nd were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.84%. Scorpio Tankers’s payout ratio is currently -9.32%.

About Scorpio Tankers (Get Rating)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.

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