Zacks: Analysts Anticipate Scorpio Tankers Inc. (NYSE:STNG) Will Post Earnings of -$0.67 Per Share

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Equities research analysts forecast that Scorpio Tankers Inc. (NYSE:STNG) will announce ($0.67) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Scorpio Tankers’ earnings. The lowest EPS estimate is ($0.83) and the highest is ($0.55). Scorpio Tankers reported earnings of ($1.50) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 55.3%. The company is expected to report its next quarterly earnings report before the market opens on Wednesday, July 31st.

According to Zacks, analysts expect that Scorpio Tankers will report full year earnings of ($0.04) per share for the current financial year, with EPS estimates ranging from ($0.61) to $0.57. For the next year, analysts expect that the firm will report earnings of $2.46 per share, with EPS estimates ranging from $1.15 to $4.57. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Scorpio Tankers.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Thursday, May 2nd. The shipping company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.18. Scorpio Tankers had a negative net margin of 23.03% and a negative return on equity of 6.54%. The firm had revenue of $195.83 million for the quarter, compared to analysts’ expectations of $186.60 million. During the same quarter in the prior year, the company posted ($1.02) earnings per share. The business’s revenue for the quarter was up 25.2% on a year-over-year basis.

STNG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a report on Thursday, May 16th. Zacks Investment Research upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Saturday, July 13th. ValuEngine upgraded shares of VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 99 ($1.29) price target on shares of in a report on Friday, June 28th. Finally, BTIG Research reiterated a “hold” rating on shares of Genworth Financial in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $33.67.

Shares of NYSE:STNG traded up $0.39 during trading on Wednesday, reaching $28.23. 12,536 shares of the stock traded hands, compared to its average volume of 591,004. The firm’s 50-day moving average price is $27.57. Scorpio Tankers has a 52-week low of $14.75 and a 52-week high of $30.87. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.46 and a current ratio of 1.48. The company has a market capitalization of $1.43 billion, a PE ratio of -6.18 and a beta of 1.09.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.42%. The ex-dividend date was Tuesday, June 4th. Scorpio Tankers’s dividend payout ratio is currently -8.77%.

Hedge funds have recently modified their holdings of the stock. Penbrook Management LLC acquired a new position in shares of Scorpio Tankers in the 2nd quarter valued at $756,000. Marshall Wace North America L.P. acquired a new position in shares of Scorpio Tankers in the 1st quarter valued at $2,968,000. Cooper Creek Partners Management LLC acquired a new position in shares of Scorpio Tankers in the 1st quarter valued at $1,043,000. Delek Group Ltd. acquired a new position in shares of Scorpio Tankers in the 1st quarter valued at $1,957,000. Finally, Rubric Capital Management LP acquired a new position in shares of Scorpio Tankers in the 1st quarter valued at $9,920,000. Institutional investors own 55.36% of the company’s stock.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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Earnings History and Estimates for Scorpio Tankers (NYSE:STNG)

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