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

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.40 per share by the shipping company on Friday, June 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, June 14th.

Scorpio Tankers has increased its dividend by an average of 38.0% annually over the last three years and has raised its dividend every year for the last 1 years.

Scorpio Tankers Trading Up 1.4 %

Shares of NYSE STNG traded up $1.08 during mid-day trading on Friday, hitting $77.83. 1,216,924 shares of the company traded hands, compared to its average volume of 670,547. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. Scorpio Tankers has a 1 year low of $40.34 and a 1 year high of $79.58. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 1.23 and a beta of 0.18. The business has a 50 day moving average of $70.97 and a two-hundred day moving average of $64.83.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, topping analysts' consensus estimates of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The firm had revenue of $389.76 million during the quarter, compared to analyst estimates of $381.46 million. On average, sell-side analysts anticipate that Scorpio Tankers will post 12.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STNG shares. Bank of America boosted their target price on Scorpio Tankers from $76.00 to $82.00 and gave the company a "neutral" rating in a research note on Friday. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Evercore ISI increased their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an "outperform" rating in a research note on Thursday, February 15th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Scorpio Tankers from $85.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.17.

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.