Scorpio Tankers (NYSE:STNG) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Scorpio Tankers (NYSE:STNG) issued its earnings results on Tuesday. The shipping company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.52 by $0.08, Briefing.com reports. Scorpio Tankers had a return on equity of 24.62% and a net margin of 47.36%. The company had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. During the same period in the previous year, the company posted $2.41 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year.

Scorpio Tankers Price Performance

NYSE:STNG opened at $76.56 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.58 and a current ratio of 1.60. Scorpio Tankers has a 52 week low of $46.37 and a 52 week high of $84.67. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 1.19 and a beta of 0.16. The firm’s 50-day simple moving average is $79.15 and its 200 day simple moving average is $73.57.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, August 15th. Scorpio Tankers’s dividend payout ratio is 14.84%.

Analysts Set New Price Targets

STNG has been the subject of several research analyst reports. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus lifted their target price on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI boosted 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. Bank of America decreased their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.17.

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.