Analysts Offer Predictions for Scorpio Tankers Inc.’s Q4 2022 Earnings (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNGGet Rating) – Jefferies Financial Group boosted their Q4 2022 earnings per share estimates for Scorpio Tankers in a note issued to investors on Wednesday, April 27th. Jefferies Financial Group analyst R. Giveans now expects that the shipping company will earn $1.28 per share for the quarter, up from their previous estimate of $1.12. Jefferies Financial Group currently has a “Buy” rating and a $27.00 target price on the stock.

Scorpio Tankers (NYSE:STNGGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The shipping company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.31. The company had revenue of $174.00 million for the quarter, compared to analysts’ expectations of $158.43 million. Scorpio Tankers had a negative net margin of 43.35% and a negative return on equity of 11.88%. Scorpio Tankers’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.05) earnings per share.

Other research analysts have also recently issued reports about the stock. HC Wainwright increased their price target on shares of Scorpio Tankers from $28.00 to $38.00 in a research report on Friday. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. B. Riley increased their price objective on Scorpio Tankers from $30.00 to $35.00 in a research note on Friday. StockNews.com raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Bank of America raised Scorpio Tankers from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.50 to $23.00 in a research note on Thursday, March 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $24.61.

STNG stock opened at $24.68 on Friday. Scorpio Tankers has a 1-year low of $11.02 and a 1-year high of $25.02. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.16. The company’s 50 day moving average is $19.97 and its 200 day moving average is $16.44. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -5.75 and a beta of 0.71.

Several large investors have recently modified their holdings of the company. Counterpoint Mutual Funds LLC bought a new stake in Scorpio Tankers in the 4th quarter worth about $28,000. Wilen Investment Management CORP. bought a new stake in shares of Scorpio Tankers during the 3rd quarter valued at about $61,000. ProShare Advisors LLC bought a new stake in shares of Scorpio Tankers during the 4th quarter valued at about $136,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Scorpio Tankers during the 4th quarter valued at about $145,000. Finally, First Trust Advisors LP grew its stake in shares of Scorpio Tankers by 6.8% during the 4th quarter. First Trust Advisors LP now owns 11,681 shares of the shipping company’s stock valued at $150,000 after purchasing an additional 742 shares during the period. Hedge funds and other institutional investors own 43.85% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, May 20th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 1.62%. Scorpio Tankers’s payout ratio is presently -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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