FY2024 EPS Estimates for Scorpio Tankers Raised by B. Riley

Scorpio Tankers Inc. (NYSE:STNG) – Equities research analysts at B. Riley boosted their FY2024 EPS estimates for Scorpio Tankers in a report released on Tuesday, October 29th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $10.48 per share for the year, up from their previous forecast of $10.29. The consensus estimate for Scorpio Tankers’ current full-year earnings is $11.23 per share. B. Riley also issued estimates for Scorpio Tankers’ Q4 2024 earnings at $1.14 EPS and FY2025 earnings at $10.20 EPS.

A number of other brokerages have also recently commented on STNG. Evercore ISI reduced their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday. Bank of America cut their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.40.

Scorpio Tankers Stock Up 0.3 %

STNG stock opened at $58.27 on Friday. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 4.18 and a beta of 0.15. The company has a fifty day moving average price of $68.60 and a 200 day moving average price of $73.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.63. Scorpio Tankers has a 12 month low of $52.68 and a 12 month high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.91 earnings per share.

Institutional Investors Weigh In On Scorpio Tankers

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Scorpio Tankers during the third quarter valued at about $28,000. Fifth Third Bancorp grew its stake in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares during the period. Quarry LP raised its holdings in shares of Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

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.