What is B. Riley’s Estimate for Scorpio Tankers Q3 Earnings?

Scorpio Tankers Inc. (NYSE:STNG) – B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for shares of Scorpio Tankers in a research report issued to clients and investors on Thursday, October 24th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $1.27 per share for the quarter, down from their prior forecast of $1.46. The consensus estimate for Scorpio Tankers’ current full-year earnings is $12.43 per share. B. Riley also issued estimates for Scorpio Tankers’ FY2025 earnings at $9.38 EPS.

STNG has been the topic of several other research reports. Evercore ISI upped their target price on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America cut their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $82.40.

Scorpio Tankers Trading Up 1.1 %

Scorpio Tankers stock opened at $62.02 on Friday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 5.75, a P/E/G ratio of 1.81 and a beta of 0.15. The firm has a 50-day moving average of $69.32 and a 200-day moving average of $74.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. Scorpio Tankers has a one year low of $52.68 and a one year high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. During the same quarter in the prior year, the company posted $2.41 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis.

Hedge Funds Weigh In On Scorpio Tankers

Several large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its position in shares of Scorpio Tankers by 51.9% in the third quarter. Assenagon Asset Management S.A. now owns 20,518 shares of the shipping company’s stock valued at $1,463,000 after purchasing an additional 7,010 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Scorpio Tankers by 8,249.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after purchasing an additional 1,857,668 shares during the period. U S Global Investors Inc. grew its holdings in Scorpio Tankers by 172.6% in the 3rd quarter. U S Global Investors Inc. now owns 4,877 shares of the shipping company’s stock valued at $348,000 after buying an additional 3,088 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Scorpio Tankers by 16.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 32,903 shares of the shipping company’s stock worth $2,346,000 after buying an additional 4,564 shares during the period. Finally, Blue Trust Inc. increased its position in Scorpio Tankers by 191.0% during the 3rd quarter. Blue Trust Inc. now owns 3,277 shares of the shipping company’s stock worth $234,000 after buying an additional 2,151 shares during the period. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is 14.84%.

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.