Scorpio Tankers Inc. (STNG) Releases Earnings Results, Misses Estimates By $0.04 EPS
Scorpio Tankers Inc. (NYSE:STNG) released its quarterly earnings data on Thursday. The shipping company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04), Briefing.com reports. Scorpio Tankers had a negative net margin of 29.58% and a negative return on equity of 5.63%. The firm had revenue of $123.20 million during the quarter, compared to the consensus estimate of $129.54 million. During the same quarter last year, the business posted ($0.11) earnings per share. Scorpio Tankers’s revenue was up 7.8% compared to the same quarter last year.
Scorpio Tankers (STNG) traded up $0.06 during trading hours on Friday, reaching $3.40. 5,357,586 shares of the company traded hands, compared to its average volume of 3,094,345. Scorpio Tankers has a twelve month low of $3.20 and a twelve month high of $4.93. The company has a current ratio of 1.36, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.18%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio (DPR) is currently -5.00%.
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Several research analysts have commented on the stock. Credit Suisse Group reissued a “buy” rating and set a $7.00 price target on shares of Scorpio Tankers in a research note on Tuesday, September 19th. Zacks Investment Research downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Stifel Nicolaus reissued a “buy” rating and set a $7.00 price target (down from $8.00) on shares of Scorpio Tankers in a research note on Wednesday, September 20th. BidaskClub downgraded shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, UBS AG raised shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 price target on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $6.44.
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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