Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Investors of record on Wednesday, December 13th will be paid a dividend of 0.01 per share by the shipping company on Thursday, December 28th. This represents a $0.04 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, December 12th.

Scorpio Tankers has raised its dividend payment by an average of 56.7% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Scorpio Tankers has a dividend payout ratio of -10.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Scorpio Tankers to earn $0.31 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 12.9%.

Shares of Scorpio Tankers (NYSE STNG) opened at $3.03 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99. Scorpio Tankers has a twelve month low of $3.01 and a twelve month high of $4.93.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.04). The company had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $129.54 million. Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS. equities analysts anticipate that Scorpio Tankers will post -0.39 EPS for the current fiscal year.

STNG has been the subject of a number of recent analyst reports. BidaskClub lowered Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Stifel Nicolaus set a $8.00 price objective on Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, August 28th. Credit Suisse Group reissued a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a report on Tuesday, September 19th. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Finally, Jefferies Group reissued a “buy” rating and set a $5.50 price objective on shares of Scorpio Tankers in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $6.33.

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Scorpio Tankers Company Profile

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).

Dividend History for Scorpio Tankers (NYSE:STNG)

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