Scorpio Tankers (STNG) Set to Announce Quarterly Earnings on Thursday

Scorpio Tankers (NYSE:STNG) is set to post its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Scorpio Tankers to post earnings of $3.73 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $335.70 million. During the same period last year, the business earned $4.24 EPS. Scorpio Tankers’s quarterly revenue was down 31.9% compared to the same quarter last year. On average, analysts expect Scorpio Tankers to post $12 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Scorpio Tankers Price Performance

STNG opened at $71.99 on Tuesday. The stock has a 50-day moving average price of $70.50 and a 200-day moving average price of $64.55. The firm has a market cap of $3.82 billion, a PE ratio of 7.24, a P/E/G ratio of 1.27 and a beta of 0.18. Scorpio Tankers has a 1 year low of $40.34 and a 1 year high of $74.04. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.13 and a quick ratio of 1.12.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. Scorpio Tankers’s payout ratio is currently 16.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on STNG shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased 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. Evercore ISI raised their target price on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Scorpio Tankers Company Profile

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.