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

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Stockholders of record on Friday, March 7th will be paid a dividend of 0.40 per share by the shipping company on Friday, March 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, March 7th.

Scorpio Tankers has raised its dividend by an average of 58.7% annually over the last three years. Scorpio Tankers has a payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Scorpio Tankers to earn $4.86 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 32.9%.

Scorpio Tankers Stock Performance

STNG stock traded down $3.08 during trading on Thursday, reaching $44.78. The stock had a trading volume of 1,854,719 shares, compared to its average volume of 1,070,966. Scorpio Tankers has a 52 week low of $44.00 and a 52 week high of $84.67. The stock’s 50 day moving average is $49.52 and its two-hundred day moving average is $60.03. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.26 billion, a PE ratio of 3.21 and a beta of 0.08.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. As a group, equities analysts anticipate that Scorpio Tankers will post 9.88 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on STNG shares. Bank of America reduced their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday. Finally, Evercore ISI reduced their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus target price of $72.75.

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.