Scorpio Tankers Inc. (NYSE:STNG – Get Rating) – Research analysts at Jefferies Financial Group decreased their Q3 2022 earnings per share estimates for shares of Scorpio Tankers in a note issued to investors on Tuesday, September 6th. Jefferies Financial Group analyst O. Nokta now forecasts that the shipping company will post earnings per share of $3.45 for the quarter, down from their prior estimate of $3.50. Jefferies Financial Group currently has a “Buy” rating and a $57.00 target price on the stock. The consensus estimate for Scorpio Tankers’ current full-year earnings is $6.80 per share.
STNG has been the subject of a number of other research reports. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Scorpio Tankers from $10.50 to $34.00 and gave the company a “sell” rating in a research note on Tuesday. Clarkson Capital reaffirmed a “buy” rating on shares of Scorpio Tankers in a research note on Tuesday, June 14th. Stifel Nicolaus upped their price target on Scorpio Tankers from $39.00 to $43.00 in a research note on Tuesday, July 19th. Finally, B. Riley increased their target price on Scorpio Tankers from $45.00 to $50.00 in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.
Scorpio Tankers Stock Performance
Scorpio Tankers (NYSE:STNG – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The shipping company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.88 by $0.25. The firm had revenue of $405.80 million during the quarter, compared to the consensus estimate of $333.11 million. Scorpio Tankers had a positive return on equity of 3.32% and a negative net margin of 1.49%. The company’s revenue for the quarter was up 191.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.94) EPS.
Scorpio Tankers Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Wednesday, August 10th. Scorpio Tankers’s dividend payout ratio is currently -63.49%.
Institutional Trading of Scorpio Tankers
Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Scorpio Tankers by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,578,947 shares of the shipping company’s stock valued at $55,136,000 after buying an additional 57,184 shares in the last quarter. FMR LLC grew its holdings in Scorpio Tankers by 1,495.0% during the 2nd quarter. FMR LLC now owns 1,865,679 shares of the shipping company’s stock valued at $64,385,000 after buying an additional 1,748,708 shares in the last quarter. State Street Corp grew its holdings in Scorpio Tankers by 19.0% during the 1st quarter. State Street Corp now owns 930,715 shares of the shipping company’s stock valued at $19,899,000 after buying an additional 148,367 shares in the last quarter. Royce & Associates LP grew its holdings in Scorpio Tankers by 2.2% during the 1st quarter. Royce & Associates LP now owns 608,276 shares of the shipping company’s stock valued at $13,005,000 after buying an additional 13,000 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its holdings in Scorpio Tankers by 11.4% during the 1st quarter. Peregrine Capital Management LLC now owns 567,455 shares of the shipping company’s stock valued at $12,132,000 after buying an additional 58,008 shares in the last quarter. Hedge funds and other institutional investors own 50.20% of the company’s stock.
About Scorpio Tankers
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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