Scorpio Tankers (NYSE:STNG) Issues Quarterly Earnings Results, Beats Estimates By $0.32 EPS

Scorpio Tankers (NYSE:STNG - Get Free Report) announced its quarterly earnings data on Thursday. The shipping company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.32, Zacks reports. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. During the same quarter last year, the firm posted $3.97 EPS. The firm's revenue for the quarter was down 45.3% on a year-over-year basis.

Scorpio Tankers Trading Up 3.7 %

STNG traded up $1.43 during mid-day trading on Friday, hitting $39.78. 1,019,790 shares of the stock were exchanged, compared to its average volume of 897,211. 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 company has a market cap of $2.03 billion, a PE ratio of 3.05 and a beta of -0.12. The firm's fifty day moving average is $37.39 and its two-hundred day moving average is $46.72. Scorpio Tankers has a 1-year low of $30.63 and a 1-year high of $84.67.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.02%. Scorpio Tankers's payout ratio is presently 15.76%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus cut their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday, February 14th. Evercore ISI reduced their price objective on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, Jefferies Financial Group reissued a "buy" rating and set a $65.00 price objective on shares of Scorpio Tankers in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $60.50.

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.

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