Scorpio Tankers (NYSE:STNG - Get Free Report) posted its earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.32, Zacks reports. The firm had revenue of $204.20 million during the quarter, compared to analysts' expectations of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business's revenue was down 45.3% compared to the same quarter last year. During the same period in the previous year, the business posted $3.97 EPS.
Scorpio Tankers Trading Up 1.2 %
Scorpio Tankers stock traded up $0.48 during mid-day trading on Thursday, hitting $40.59. The company's stock had a trading volume of 819,917 shares, compared to its average volume of 903,971. The stock's fifty day moving average is $37.41 and its two-hundred day moving average is $46.17. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.07 billion, a PE ratio of 3.11 and a beta of -0.12. Scorpio Tankers has a 1 year low of $30.63 and a 1 year high of $84.67.
Scorpio Tankers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's dividend payout ratio is presently 15.76%.
Wall Street Analysts Forecast Growth
STNG has been the topic of several recent analyst reports. Evercore ISI lowered their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Jefferies Financial Group restated a "buy" rating and issued a $65.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 1st. Finally, Stifel Nicolaus reduced their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.
Read Our Latest Research Report on STNG
About Scorpio Tankers
(
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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.
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