FY2024 EPS Estimate for Scorpio Tankers Decreased by Analyst

Scorpio Tankers Inc. (NYSE:STNG) – Investment analysts at B. Riley decreased their FY2024 earnings per share estimates for shares of Scorpio Tankers in a report released on Wednesday, January 15th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of $9.67 per share for the year, down from their previous estimate of $10.48. The consensus estimate for Scorpio Tankers’ current full-year earnings is $11.04 per share. B. Riley also issued estimates for Scorpio Tankers’ Q4 2024 earnings at $0.34 EPS and FY2025 earnings at $4.12 EPS.

Several other equities analysts have also recently commented on STNG. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI reduced their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group reduced their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Bank of America decreased their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $75.40.

Scorpio Tankers Stock Down 2.8 %

Shares of STNG opened at $52.90 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The company has a 50-day simple moving average of $51.16 and a 200-day simple moving average of $63.79. Scorpio Tankers has a 52 week low of $45.94 and a 52 week high of $84.67. The firm has a market capitalization of $2.67 billion, a P/E ratio of 3.79 and a beta of 0.12.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same quarter in the previous year, the firm posted $1.91 earnings per share. Scorpio Tankers’s revenue was down 8.0% compared to the same quarter last year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers during the 3rd quarter worth approximately $28,000. GAMMA Investing LLC grew its position in Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after acquiring an additional 402 shares during the last quarter. Quarry LP increased its holdings in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its position in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.