Scorpio Tankers Inc. (STNG) to Issue Quarterly Dividend of $0.40 on March 21st

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders of record on Friday, March 7th will be given a dividend of 0.40 per share by the shipping company on Friday, March 21st. This represents a $1.60 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, March 7th.

Scorpio Tankers has increased its dividend by an average of 58.7% per year over the last three years. Scorpio Tankers has a dividend payout ratio of 20.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $4.86 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 32.9%.

Scorpio Tankers Price Performance

STNG stock opened at $44.78 on Friday. The company has a fifty day moving average price of $49.52 and a 200-day moving average price of $60.03. The company has a market capitalization of $2.26 billion, a P/E ratio of 3.21 and a beta of 0.08. Scorpio Tankers has a 52-week low of $44.00 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. As a group, equities analysts expect that Scorpio Tankers will post 9.88 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on STNG shares. Bank of America lowered their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Jefferies Financial Group reissued a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, Evercore ISI lowered their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers has a consensus rating of “Hold” and a consensus target price of $72.75.

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.