Brokerages Expect Scorpio Tankers Inc. (NYSE:STNG) Will Post Quarterly Sales of $143.84 Million

Analysts forecast that Scorpio Tankers Inc. (NYSE:STNG) will announce $143.84 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Scorpio Tankers’ earnings, with estimates ranging from $135.23 million to $153.70 million. Scorpio Tankers posted sales of $119.28 million in the same quarter last year, which suggests a positive year over year growth rate of 20.6%. The business is expected to announce its next earnings report on Wednesday, October 30th.

On average, analysts expect that Scorpio Tankers will report full year sales of $690.32 million for the current financial year, with estimates ranging from $667.13 million to $731.97 million. For the next year, analysts forecast that the firm will report sales of $842.99 million, with estimates ranging from $753.28 million to $943.54 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Scorpio Tankers.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Wednesday, July 31st. The shipping company reported ($0.62) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.71) by $0.09. Scorpio Tankers had a negative net margin of 16.52% and a negative return on equity of 5.50%. The firm had revenue of $150.80 million during the quarter, compared to the consensus estimate of $148.88 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis.



Several equities research analysts have recently issued reports on STNG shares. Stifel Nicolaus increased their price objective on shares of Scorpio Tankers from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised shares of Scorpio Tankers from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $29.00 to $34.00 in a research report on Thursday, May 16th. ValuEngine downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. B. Riley set a $40.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $34.71.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Algert Global LLC acquired a new stake in Scorpio Tankers during the 2nd quarter worth approximately $873,000. Invesco Ltd. boosted its position in Scorpio Tankers by 2.4% during the 2nd quarter. Invesco Ltd. now owns 239,165 shares of the shipping company’s stock worth $7,060,000 after buying an additional 5,694 shares during the period. US Bancorp DE acquired a new stake in Scorpio Tankers during the 2nd quarter worth approximately $46,000. Parametric Portfolio Associates LLC boosted its position in Scorpio Tankers by 6.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,943 shares of the shipping company’s stock worth $943,000 after buying an additional 1,967 shares during the period. Finally, Northern Trust Corp boosted its position in Scorpio Tankers by 3.4% during the 2nd quarter. Northern Trust Corp now owns 434,770 shares of the shipping company’s stock worth $12,834,000 after buying an additional 14,155 shares during the period. Institutional investors and hedge funds own 55.17% of the company’s stock.

NYSE:STNG traded down $1.01 during trading hours on Friday, hitting $23.00. The stock had a trading volume of 32,980 shares, compared to its average volume of 782,040. Scorpio Tankers has a one year low of $14.75 and a one year high of $30.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.13 and a current ratio of 1.15. The stock has a market cap of $1.23 billion, a P/E ratio of -5.11 and a beta of 1.07. The firm has a 50 day moving average price of $27.64.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Monday, September 9th. Scorpio Tankers’s payout ratio is -8.77%.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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Earnings History and Estimates for Scorpio Tankers (NYSE:STNG)

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