Scorpio Tankers Inc. (NASDAQ:STNG) – Analysts at Seaport Global Securities cut their Q1 2017 earnings per share estimates for shares of Scorpio Tankers in a research note issued on Tuesday. Seaport Global Securities analyst M. Fyhr now anticipates that the firm will post earnings of $0.06 per share for the quarter, down from their prior estimate of $0.14. Seaport Global Securities also issued estimates for Scorpio Tankers’ Q2 2017 earnings at $0.07 EPS, Q3 2017 earnings at $0.08 EPS and Q4 2017 earnings at $0.09 EPS.
Scorpio Tankers (NASDAQ:STNG) last announced its earnings results on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The business had revenue of $137.21 million for the quarter, compared to the consensus estimate of $146.20 million. The firm’s quarterly revenue was down 27.2% compared to the same quarter last year. During the same period last year, the business posted $0.32 EPS.
STNG has been the topic of a number of other reports. Jefferies Group set a $7.00 price target on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Wednesday, July 27th. Deutsche Bank AG reissued a “buy” rating and issued a $9.00 price target on shares of Scorpio Tankers in a research note on Wednesday, July 6th. Morgan Stanley reissued an “equal weight” rating and issued a $4.50 price target (down from $6.00) on shares of Scorpio Tankers in a research note on Friday, August 26th. Clarkson Capital downgraded shares of Scorpio Tankers from a “buy” rating to a “neutral” rating in a research note on Monday, October 3rd. Finally, Zacks Investment Research downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $6.83.
Shares of Scorpio Tankers (NASDAQ:STNG) traded down 2.60% during midday trading on Wednesday, reaching $4.50. 2,357,883 shares of the company’s stock traded hands. The stock has a market capitalization of $726.21 million and a P/E ratio of 5.16. The firm’s 50-day moving average price is $4.83 and its 200 day moving average price is $5.20. Scorpio Tankers has a 1-year low of $4.05 and a 1-year high of $9.83.
A number of large investors have recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI purchased a new position in Scorpio Tankers during the second quarter valued at approximately $135,000. BB&T Securities LLC boosted its position in Scorpio Tankers by 30.3% in the second quarter. BB&T Securities LLC now owns 201,991 shares of the company’s stock valued at $848,000 after buying an additional 46,943 shares during the period. Boston Partners boosted its position in Scorpio Tankers by 7.8% in the second quarter. Boston Partners now owns 2,680,970 shares of the company’s stock valued at $11,260,000 after buying an additional 194,540 shares during the period. Emerald Acquisition Ltd. purchased a new position in Scorpio Tankers during the second quarter valued at approximately $3,112,000. Finally, Wedbush Securities Inc. boosted its position in Scorpio Tankers by 410.1% in the second quarter. Wedbush Securities Inc. now owns 67,142 shares of the company’s stock valued at $282,000 after buying an additional 53,979 shares during the period.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 10.82%. The ex-dividend date was Tuesday, September 13th.
About Scorpio Tankers
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, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers, which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.
Receive News & Ratings for Scorpio Tankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.