Scorpio Tankers Inc. (STNG) Expected to Announce Earnings of -$0.05 Per Share
Wall Street analysts expect that Scorpio Tankers Inc. (NASDAQ:STNG) will announce earnings per share of ($0.05) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Scorpio Tankers’ earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.09). Scorpio Tankers reported earnings of $0.04 per share during the same quarter last year, which indicates a negative year over year growth rate of 225%. The firm is expected to issue its next quarterly earnings results on Thursday, August 10th.
On average, analysts expect that Scorpio Tankers will report full year earnings of $0.05 per share for the current fiscal year, with EPS estimates ranging from ($0.24) to $0.74. For the next financial year, analysts forecast that the business will report earnings of $0.65 per share, with EPS estimates ranging from $0.36 to $1.28. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Scorpio Tankers.
STNG has been the topic of several recent analyst reports. Seaport Global Securities reaffirmed a “buy” rating and set a $7.50 target price on shares of Scorpio Tankers in a research note on Thursday, May 25th. Credit Suisse Group set a $7.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $5.50 target price (down from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. BidaskClub cut Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Cowen and Company reiterated an “outperform” rating and set a $7.00 price target (down previously from $10.00) on shares of Scorpio Tankers in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $6.44.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Scorpio Tankers by 15.0% in the first quarter. Principal Financial Group Inc. now owns 25,836 shares of the shipping company’s stock valued at $115,000 after buying an additional 3,377 shares during the last quarter. Jane Street Group LLC purchased a new position in Scorpio Tankers during the first quarter worth about $129,000. Nisa Investment Advisors LLC purchased a new position in Scorpio Tankers during the first quarter worth about $158,000. Karp Capital Management Corp purchased a new position in Scorpio Tankers during the first quarter worth about $164,000. Finally, KCG Holdings Inc. boosted its position in Scorpio Tankers by 238.6% in the first quarter. KCG Holdings Inc. now owns 45,238 shares of the shipping company’s stock worth $201,000 after buying an additional 31,877 shares during the period.
Shares of Scorpio Tankers (STNG) traded down 0.56% on Friday, reaching $3.54. The company had a trading volume of 1,202,073 shares. The stock has a 50 day moving average price of $3.81 and a 200-day moving average price of $4.01. The company’s market capitalization is $576.00 million. Scorpio Tankers has a 12 month low of $3.42 and a 12 month high of $5.53.
About Scorpio Tankers
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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