Scorpio Tankers (NYSE:STNG) Issues Earnings Results

Scorpio Tankers (NYSE:STNG) announced its earnings results on Tuesday. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08, Briefing.com reports. Scorpio Tankers had a return on equity of 24.62% and a net margin of 47.36%. The firm had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. During the same quarter in the prior year, the business earned $2.41 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $76.56 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58. The stock has a fifty day moving average price of $79.15 and a two-hundred day moving average price of $73.57. Scorpio Tankers has a 52-week low of $46.37 and a 52-week high of $84.67. The firm has a market capitalization of $4.18 billion, a P/E ratio of 7.12, a P/E/G ratio of 1.19 and a beta of 0.16.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.60 annualized dividend and a yield of 2.09%. Scorpio Tankers’s dividend payout ratio is currently 14.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday. Evercore ISI increased their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Stifel Nicolaus increased their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.17.

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.