Scorpio Tankers Inc. (NYSE:STNG) Declares Quarterly Dividend of $0.75

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Monday, October 26th. Shareholders of record on Friday, November 13th will be given a dividend of $0.75 per share by the shipping company on Friday, December 4th. This represents a $3.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, November 13th. This is a 66.7% increase from Scorpio Tankers’s previous quarterly dividend of $0.45.

Scorpio Tankers has increased its dividend by an average of 0.3% per year over the last three years and has raised its dividend every year for the last 2 years. Scorpio Tankers has a payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $8.72 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 34.4%.

Scorpio Tankers Price Performance

NYSE:STNG opened at $80.40 on Wednesday. Scorpio Tankers has a one year low of $48.93 and a one year high of $95.60. The company has a market cap of $4.05 billion, a P/E ratio of 4.26, a P/E/G ratio of 1.63 and a beta of -0.10. The firm’s fifty day moving average price is $84.44 and its two-hundred day moving average price is $77.65. The company has a debt-to-equity ratio of 0.14, a current ratio of 20.65 and a quick ratio of 20.59.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, October 28th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.43. The company had revenue of $266.47 million during the quarter, compared to analysts’ expectations of $243.98 million. Scorpio Tankers had a net margin of 77.07% and a return on equity of 17.06%. Scorpio Tankers’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.49 EPS. Equities analysts expect that Scorpio Tankers will post 15.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on STNG. BTIG Research reissued a “buy” rating and issued a $110.00 price target on shares of Scorpio Tankers in a report on Wednesday, October 28th. Needham & Company LLC set a $130.00 price objective on Scorpio Tankers in a report on Thursday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, September 14th. B. Riley Financial reaffirmed a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Scorpio Tankers in a research report on Thursday, October 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $100.00 target price on shares of Scorpio Tankers in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.56.

About Scorpio Tankers

Scorpio Tankers Inc. is a marine transportation company focused on moving refined petroleum products around the world. Its product tankers carry cargoes such as gasoline, diesel, jet fuel and naphtha between refineries, storage facilities and end markets. The company serves international shipping routes, connecting major refining and consumption regions. Its fleet includes medium-range and larger product tankers designed to transport petroleum products across regional and long-distance routes. Scorpio Tankers was founded in 2009 and is headquartered in Monaco.