Scorpio Tankers Inc. (STNG) to Distribute Quarterly Dividend of $0.45 on August 31st

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 17th will be paid a dividend of 0.45 per share by the shipping company on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, August 17th.

Scorpio Tankers has raised its dividend payment by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Scorpio Tankers has a payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Scorpio Tankers to earn $6.27 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 28.7%.

Scorpio Tankers Stock Performance

NYSE STNG opened at $75.78 on Friday. The company has a fifty day simple moving average of $76.94 and a 200 day simple moving average of $74.02. Scorpio Tankers has a 12-month low of $43.78 and a 12-month high of $87.39. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.82 billion, a P/E ratio of 7.45 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.17. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The firm had revenue of $408.73 million for the quarter, compared to the consensus estimate of $398.29 million. During the same quarter in the prior year, the company posted $1.41 earnings per share. The business’s revenue was up 77.5% on a year-over-year basis. Sell-side analysts predict that Scorpio Tankers will post 12.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on STNG shares. Zacks Research raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. Morgan Stanley set a $82.00 price target on Scorpio Tankers and gave the company an “equal weight” rating in a research note on Thursday, July 9th. BTIG Research boosted their price objective on Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen downgraded Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.14.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.