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

Key Points

• Scorpio Tankers Inc. has declared a quarterly dividend of $0.40 per share, with an annualized yield of 3.5%, scheduled for payment on August 29th to investors of record as of August 13th.
• The company reported an EPS of $1.41 for the latest quarter, exceeding analysts' expectations, although revenue declined by 39.5% year-over-year.
• Institutional investors increased their holdings in Scorpio Tankers significantly during the second quarter, indicating growing confidence in the company's performance.

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Investors of record on Wednesday, August 13th will be paid a dividend of 0.40 per share by the shipping company on Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, August 13th.

Scorpio Tankers has a payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Scorpio Tankers to earn $6.30 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 25.4%.

Scorpio Tankers Trading Down 1.1%

NYSE:STNG traded down $0.53 during trading hours on Thursday, reaching $45.18. The company's stock had a trading volume of 1,575,165 shares, compared to its average volume of 1,056,478. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 4.45 and a beta of -0.04. The firm has a 50-day simple moving average of $42.14 and a 200-day simple moving average of $41.68. Scorpio Tankers has a 1 year low of $30.63 and a 1 year high of $77.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.12 and a current ratio of 4.20.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.38. Scorpio Tankers had a net margin of 48.08% and a return on equity of 12.30%. The company had revenue of $222.76 million for the quarter, compared to analysts' expectations of $219.26 million. During the same quarter last year, the company earned $3.60 EPS. The firm's revenue was down 39.5% compared to the same quarter last year. Research analysts expect that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors have recently bought and sold shares of the stock. Focus Partners Advisor Solutions LLC purchased a new stake in Scorpio Tankers in the second quarter worth about $227,000. International Assets Investment Management LLC grew its holdings in Scorpio Tankers by 10.4% in the second quarter. International Assets Investment Management LLC now owns 52,949 shares of the shipping company's stock worth $2,072,000 after purchasing an additional 4,969 shares during the period. RFG Advisory LLC purchased a new stake in Scorpio Tankers in the second quarter worth about $233,000. CWM LLC grew its holdings in Scorpio Tankers by 478.0% in the second quarter. CWM LLC now owns 28,661 shares of the shipping company's stock worth $1,122,000 after purchasing an additional 23,702 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Scorpio Tankers by 105.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,908 shares of the shipping company's stock worth $466,000 after purchasing an additional 6,116 shares during the period. 54.64% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.