B. Riley Decreases Earnings Estimates for Scorpio Tankers

Scorpio Tankers Inc. (NYSE:STNG) – Research analysts at B. Riley reduced their FY2024 earnings per share estimates for shares of Scorpio Tankers in a report released on Thursday, October 24th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $10.29 per share for the year, down from their previous forecast of $11.85. The consensus estimate for Scorpio Tankers’ current full-year earnings is $12.43 per share. B. Riley also issued estimates for Scorpio Tankers’ Q4 2024 earnings at $1.44 EPS.

Other equities research analysts have also recently issued reports about the stock. Bank of America cut their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday, July 30th. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, Evercore ISI upped their price target on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and an average price target of $82.40.

Scorpio Tankers Stock Up 1.1 %

Shares of STNG opened at $62.02 on Monday. Scorpio Tankers has a 52-week low of $52.68 and a 52-week high of $84.67. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $69.32 and a two-hundred day simple moving average of $74.22. The company has a market capitalization of $3.38 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of 1.81 and a beta of 0.15.

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

Hedge Funds Weigh In On Scorpio Tankers

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

Scorpio Tankers Dividend Announcement

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

Scorpio Tankers Company Profile

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.