Brokerages Expect Scorpio Tankers (STNG) to Post -$0.10 Earnings Per Share

Equities research analysts expect Scorpio Tankers (NYSE:STNG) to post earnings per share of ($0.10) for the current quarter, according to Zacks. Five analysts have issued estimates for Scorpio Tankers’ earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.15). Scorpio Tankers posted earnings of ($0.09) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 11.1%. The firm is expected to issue its next quarterly earnings results on Monday, September 17th.

According to Zacks, analysts expect that Scorpio Tankers will report full year earnings of ($0.20) per share for the current year, with EPS estimates ranging from ($0.42) to ($0.02). For the next year, analysts expect that the business will post earnings of $0.16 per share, with EPS estimates ranging from ($0.08) to $0.52. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Scorpio Tankers.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, April 25th. The shipping company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The company had revenue of $156.50 million for the quarter, compared to the consensus estimate of $154.72 million. Scorpio Tankers had a negative net margin of 32.67% and a negative return on equity of 7.61%. Scorpio Tankers’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS.

Several research firms recently weighed in on STNG. Stifel Nicolaus set a $5.00 price target on shares of Scorpio Tankers and gave the company a “buy” rating in a research report on Wednesday, January 24th. ValuEngine upgraded shares of Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Morgan Stanley reduced their price target on shares of Scorpio Tankers from $3.50 to $3.00 and set an “overweight” rating for the company in a research report on Wednesday, April 25th. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. Finally, DNB Markets upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Wednesday, April 25th. Three investment analysts have rated the stock with a sell rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $4.68.

Scorpio Tankers traded up $0.05, hitting $2.85, during trading on Friday, according to MarketBeat. 4,412,236 shares of the company traded hands, compared to its average volume of 4,014,246. The firm has a market cap of $915.30 million, a P/E ratio of -6.06 and a beta of 1.34. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.09. Scorpio Tankers has a one year low of $1.85 and a one year high of $4.23.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Wednesday, June 6th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, June 5th. Scorpio Tankers’s dividend payout ratio (DPR) is presently -8.51%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STNG. SG Americas Securities LLC lifted its holdings in Scorpio Tankers by 321.5% during the first quarter. SG Americas Securities LLC now owns 60,854 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 46,417 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Scorpio Tankers by 35.0% during the fourth quarter. OppenheimerFunds Inc. now owns 83,215 shares of the shipping company’s stock valued at $254,000 after purchasing an additional 21,562 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Scorpio Tankers by 11.9% during the first quarter. The Manufacturers Life Insurance Company now owns 196,351 shares of the shipping company’s stock valued at $385,000 after purchasing an additional 20,833 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Scorpio Tankers by 867.2% during the fourth quarter. Renaissance Technologies LLC now owns 182,800 shares of the shipping company’s stock valued at $558,000 after purchasing an additional 163,900 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Scorpio Tankers by 24.4% during the first quarter. New York State Common Retirement Fund now owns 291,800 shares of the shipping company’s stock valued at $572,000 after purchasing an additional 57,300 shares during the last quarter. 62.86% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Company Profile

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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Earnings History and Estimates for Scorpio Tankers (NYSE:STNG)

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