Scorpio Tankers Inc. (STNG) to Issue Quarterly Dividend of $0.40 on December 13th

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Monday, October 28th,Zacks Dividends reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.40 per share by the shipping company on Friday, December 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, November 22nd.

Scorpio Tankers has raised its dividend payment by an average of 38.0% annually over the last three years. Scorpio Tankers has a payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Scorpio Tankers to earn $9.22 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 17.4%.

Scorpio Tankers Stock Performance

STNG stock opened at $55.71 on Wednesday. The company has a 50 day moving average price of $64.69 and a 200 day moving average price of $72.48. Scorpio Tankers has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The stock has a market capitalization of $2.82 billion, a PE ratio of 3.99 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. During the same quarter in the previous year, the company posted $1.91 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts forecast that Scorpio Tankers will post 11.04 EPS for the current year.

Analyst Ratings Changes

STNG has been the subject of a number of recent research reports. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI dropped their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Jefferies Financial Group decreased their price target on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and a consensus target price of $76.40.

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.