Scorpio Tankers Inc. (NYSE:STNG) – Stock analysts at Seaport Global Securities lowered their Q1 2018 earnings estimates for Scorpio Tankers in a research report issued on Thursday. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will post earnings of $0.13 per share for the quarter, down from their prior forecast of $0.14. Seaport Global Securities also issued estimates for Scorpio Tankers’ Q3 2018 earnings at $0.15 EPS.
Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The business had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $129.54 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. WARNING: This news story was first reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://transcriptdaily.com/2017/11/21/seaport-global-securities-weighs-in-on-scorpio-tankers-inc-s-q1-2018-earnings-stng.html.
Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus set a $8.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub cut Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Credit Suisse Group set a $7.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Scorpio Tankers in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $6.44.
Scorpio Tankers (NYSE STNG) remained flat at $$3.40 during trading on Monday. 4,470,100 shares of the company were exchanged, compared to its average volume of 3,100,486. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Scorpio Tankers has a 1 year low of $3.20 and a 1 year high of $4.93.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in shares of Scorpio Tankers by 5.1% in the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock valued at $108,000 after acquiring an additional 1,316 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Scorpio Tankers by 137.2% in the 2nd quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock valued at $146,000 after acquiring an additional 21,250 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Scorpio Tankers in the 2nd quarter valued at about $154,000. KCG Holdings Inc. lifted its holdings in shares of Scorpio Tankers by 238.6% in the 1st quarter. KCG Holdings Inc. now owns 45,238 shares of the shipping company’s stock valued at $201,000 after acquiring an additional 31,877 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Scorpio Tankers by 54.9% in the 1st quarter. OppenheimerFunds Inc. now owns 62,023 shares of the shipping company’s stock valued at $275,000 after acquiring an additional 21,986 shares during the last quarter. 56.33% of the stock is owned by institutional investors and hedge funds.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio (DPR) is presently -5.06%.
Scorpio Tankers Company Profile
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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