Scorpio Tankers Inc. (NYSE:STNG) to Issue Quarterly Dividend of $0.40

Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Friday, November 22nd will be paid a dividend of 0.40 per share by the shipping company on Friday, December 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, November 22nd.

Scorpio Tankers has increased its dividend by an average of 38.0% annually over the last three years. Scorpio Tankers has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Scorpio Tankers to earn $9.11 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 17.6%.

Scorpio Tankers Trading Down 1.8 %

Scorpio Tankers stock traded down $1.09 during mid-day trading on Wednesday, hitting $58.23. The company’s stock had a trading volume of 222,179 shares, compared to its average volume of 912,288. Scorpio Tankers has a one year low of $52.68 and a one year high of $84.67. The stock has a market cap of $3.18 billion, a PE ratio of 5.47 and a beta of 0.15. The company has a 50 day moving average of $68.85 and a 200-day moving average of $74.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.61 by $0.14. The company had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.91 EPS. On average, research analysts anticipate that Scorpio Tankers will post 11.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Evercore ISI boosted their price target on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Bank of America decreased their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Scorpio Tankers has a consensus rating of “Hold” and a consensus target price of $82.40.

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.