Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Wednesday, August 1st, Wall Street Journal reports. Shareholders of record on Thursday, September 20th will be given a dividend of 0.01 per share by the shipping company on Thursday, September 27th. This represents a $0.04 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, September 19th.

Scorpio Tankers has decreased its dividend payment by an average of 53.2% per year over the last three years. Scorpio Tankers has a dividend payout ratio of -8.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Scorpio Tankers to earn $0.01 per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of 400.0%.

Scorpio Tankers stock opened at $1.82 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.71 and a debt-to-equity ratio of 1.51. Scorpio Tankers has a fifty-two week low of $1.80 and a fifty-two week high of $3.73.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, July 31st. The shipping company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The firm had revenue of $141.80 million for the quarter, compared to the consensus estimate of $144.35 million. Scorpio Tankers had a negative net margin of 31.44% and a negative return on equity of 9.08%. The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. equities research analysts expect that Scorpio Tankers will post -0.47 earnings per share for the current fiscal year.

STNG has been the topic of a number of analyst reports. Bank of America dropped their price target on Scorpio Tankers from $3.75 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, August 1st. Stifel Nicolaus set a $5.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a research report on Tuesday, July 31st. ValuEngine raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Morgan Stanley dropped their price target on Scorpio Tankers from $3.00 to $2.70 and set an “overweight” rating on the stock in a research report on Wednesday, August 1st. Finally, Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $4.20.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

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Dividend History for Scorpio Tankers (NYSE:STNG)

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