Zacks: Analysts Expect Scorpio Tankers Inc. (NYSE:STNG) Will Post Earnings of -$0.78 Per Share

Equities research analysts expect that Scorpio Tankers Inc. (NYSE:STNG) will announce earnings per share of ($0.78) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Scorpio Tankers’ earnings. The highest EPS estimate is ($0.60) and the lowest is ($0.95). Scorpio Tankers posted earnings per share of ($2.10) in the same quarter last year, which indicates a positive year over year growth rate of 62.9%. The business is scheduled to issue its next earnings results on Wednesday, October 30th.

On average, analysts expect that Scorpio Tankers will report full-year earnings of ($0.75) per share for the current fiscal year, with EPS estimates ranging from ($1.21) to $0.35. For the next financial year, analysts forecast that the company will report earnings of $2.36 per share, with EPS estimates ranging from $0.36 to $4.95. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Scorpio Tankers.

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



STNG has been the topic of a number of analyst reports. Stifel Nicolaus upped their price target on Scorpio Tankers from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group set a $40.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research report on Friday, June 28th. B. Riley set a $40.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a research note on Wednesday, July 31st. ValuEngine downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, BTIG Research set a $38.00 price objective on Scorpio Tankers and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.71.

A number of hedge funds and other institutional investors have recently made changes to their positions in STNG. Legal & General Group Plc boosted its holdings in shares of Scorpio Tankers by 72.7% in the fourth quarter. Legal & General Group Plc now owns 191,896 shares of the shipping company’s stock worth $338,000 after acquiring an additional 80,810 shares during the period. Rubric Capital Management LP bought a new position in shares of Scorpio Tankers in the first quarter worth $9,920,000. Northern Trust Corp boosted its holdings in shares of Scorpio Tankers by 38.8% in the fourth quarter. Northern Trust Corp now owns 3,794,603 shares of the shipping company’s stock worth $6,678,000 after acquiring an additional 1,061,677 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Scorpio Tankers in the first quarter worth $216,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Scorpio Tankers by 84.8% in the fourth quarter. Geode Capital Management LLC now owns 1,591,670 shares of the shipping company’s stock worth $2,801,000 after acquiring an additional 730,489 shares during the period. 55.17% of the stock is owned by institutional investors and hedge funds.

Shares of Scorpio Tankers stock traded up $1.48 during trading on Friday, reaching $23.87. 400,096 shares of the company’s stock were exchanged, compared to its average volume of 776,216. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.13 and a current ratio of 1.15. Scorpio Tankers has a 1-year low of $14.75 and a 1-year high of $30.87. The company has a market cap of $1.15 billion, a P/E ratio of -5.23 and a beta of 1.07. The firm’s 50-day moving average price is $27.40 and its 200 day moving average price is $23.74.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 1.68%. The ex-dividend date of this dividend is Monday, September 9th. Scorpio Tankers’s dividend payout ratio (DPR) is -8.77%.

Scorpio Tankers Company Profile

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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