Scorpio Tankers Inc. (STNG) Expected to Post Earnings of -$0.03 Per Share

Wall Street analysts forecast that Scorpio Tankers Inc. (NASDAQ:STNG) will report earnings of ($0.03) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Scorpio Tankers’ earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.05). Scorpio Tankers posted earnings per share of $0.04 during the same quarter last year, which indicates a negative year over year growth rate of 175%. The business is expected to issue its next quarterly earnings report on Thursday, July 27th.

According to Zacks, analysts expect that Scorpio Tankers will report full year earnings of $0.16 per share for the current year, with EPS estimates ranging from ($0.15) to $0.74. For the next financial year, analysts anticipate that the business will post earnings of $0.64 per share, with EPS estimates ranging from $0.29 to $1.28. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Scorpio Tankers.

Scorpio Tankers (NASDAQ:STNG) last announced its quarterly earnings results on Thursday, April 27th. The shipping company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. The firm had revenue of $122.80 million for the quarter, compared to analysts’ expectations of $119.80 million. Scorpio Tankers had a negative net margin of 9.39% and a negative return on equity of 3.53%. The company’s revenue was down 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.

A number of analysts recently commented on STNG shares. Bank of America Corporation upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Friday, May 12th. Cowen and Company reiterated an “outperform” rating and set a $7.00 price objective (down previously from $10.00) on shares of Scorpio Tankers in a research report on Thursday, April 27th. Credit Suisse Group reiterated a “neutral” rating on shares of Scorpio Tankers in a research report on Wednesday, February 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $8.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 25th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $7.50 price objective on shares of Scorpio Tankers in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Scorpio Tankers presently has a consensus rating of “Buy” and an average target price of $6.50.

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Scorpio Tankers by 15.0% in the first quarter. Principal Financial Group Inc. now owns 25,836 shares of the shipping company’s stock worth $115,000 after buying an additional 3,377 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Scorpio Tankers during the first quarter worth about $129,000. Private Advisor Group LLC acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth about $144,000. Nisa Investment Advisors LLC acquired a new stake in shares of Scorpio Tankers during the first quarter worth about $158,000. Finally, Karp Capital Management Corp acquired a new stake in shares of Scorpio Tankers during the first quarter worth about $164,000.

Shares of Scorpio Tankers (NASDAQ STNG) traded up 3.29% on Monday, hitting $3.77. 3,933,668 shares of the stock traded hands. Scorpio Tankers has a 12 month low of $3.42 and a 12 month high of $5.53. The firm’s 50 day moving average is $4.01 and its 200-day moving average is $4.16. The company’s market cap is $613.42 million.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 14th. Shareholders of record on Thursday, May 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, May 9th.

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Scorpio Tankers Company Profile

Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

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