Scorpio Tankers Inc. (STNG) To Go Ex-Dividend on November 22nd

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Friday, November 22nd will be given 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 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 1.9 %

STNG stock traded down $1.12 during mid-day trading on Wednesday, reaching $58.20. 254,524 shares of the stock traded hands, compared to its average volume of 912,458. The stock’s fifty day moving average is $68.85 and its 200-day moving average is $74.06. The company has a market cap of $3.18 billion, a P/E ratio of 5.41 and a beta of 0.15. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. Scorpio Tankers has a 52-week low of $52.68 and a 52-week high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. During the same quarter last year, the business posted $1.91 EPS. The company’s revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Scorpio Tankers will post 11.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STNG has been the subject of a number of recent research reports. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Bank of America dropped their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Evercore ISI decreased their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $78.40.

About Scorpio Tankers

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.