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

Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Friday, November 22nd will be given a dividend of 0.40 per share by the shipping company on Friday, December 13th. This represents a $1.60 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, November 22nd.

Scorpio Tankers has increased its dividend by an average of 38.0% per year over the last three years. Scorpio Tankers has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $9.11 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 17.6%.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock traded down $1.12 during trading on Wednesday, reaching $58.20. 254,524 shares of the company’s stock were exchanged, compared to its average volume of 912,458. The firm’s 50-day moving average price is $68.85 and its 200 day moving average price is $74.06. The company has a market cap of $3.18 billion, a P/E ratio of 5.41 and a beta of 0.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. Scorpio Tankers has a 1-year low of $52.68 and a 1-year high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued 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 return on equity of 23.83% and a net margin of 47.36%. The business had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. During the same quarter in the prior year, the firm earned $1.91 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts anticipate that Scorpio Tankers will post 11.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STNG. Bank of America dropped their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Evercore ISI reduced their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers has an average rating of “Hold” and an average target price of $78.40.

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.