Scorpio Tankers Inc. (NYSE:STNG) to Issue Quarterly Dividend of $0.40

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Tuesday, July 30th, Wall Street Journal reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.40 per share by the shipping company on Friday, September 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, August 15th.

Scorpio Tankers has increased its dividend by an average of 38.0% annually over the last three years. Scorpio Tankers has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Scorpio Tankers to earn $10.08 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 15.9%.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $73.94 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. Scorpio Tankers has a 1 year low of $47.88 and a 1 year high of $84.67. The company has a market cap of $3.93 billion, a PE ratio of 6.80, a PEG ratio of 1.30 and a beta of 0.17. The company’s 50-day moving average is $78.01 and its two-hundred day moving average is $74.09.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. The business had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. Scorpio Tankers’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company posted $2.41 EPS. Equities analysts anticipate that Scorpio Tankers will post 13.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on STNG shares. StockNews.com upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Stifel Nicolaus increased their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Bank of America cut their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Finally, Evercore ISI increased their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, 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.