Scorpio Tankers Inc. (NYSE:STNG) Expected to Announce Quarterly Sales of $162.15 Million

Equities analysts expect Scorpio Tankers Inc. (NYSE:STNG) to post $162.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Scorpio Tankers’ earnings, with the highest sales estimate coming in at $173.90 million and the lowest estimate coming in at $147.25 million. Scorpio Tankers posted sales of $138.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.5%. The business is scheduled to report its next earnings results on Thursday, February 17th.

According to Zacks, analysts expect that Scorpio Tankers will report full year sales of $546.90 million for the current financial year, with estimates ranging from $528.23 million to $563.30 million. For the next financial year, analysts expect that the company will post sales of $869.91 million, with estimates ranging from $758.31 million to $967.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Scorpio Tankers.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, November 11th. The shipping company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.31) by ($0.08). Scorpio Tankers had a negative net margin of 49.84% and a negative return on equity of 11.99%. During the same quarter in the prior year, the firm earned ($0.37) earnings per share.

STNG has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, November 17th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of Scorpio Tankers in a report on Friday, November 12th. Bank of America cut shares of Scorpio Tankers from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $24.00 to $15.00 in a report on Thursday, August 5th. DNB Markets upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating and reduced their target price for the stock from $25.00 to $21.00 in a report on Friday, August 6th. Finally, Evercore ISI restated a “buy” rating and set a $24.00 target price on shares of Scorpio Tankers in a report on Sunday, August 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.75.

Shares of Scorpio Tankers stock traded up $0.53 on Thursday, hitting $15.32. The company had a trading volume of 463,540 shares, compared to its average volume of 1,110,746. The business has a 50-day simple moving average of $16.91 and a 200-day simple moving average of $18.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.71 and a quick ratio of 0.69. The company has a market cap of $894.23 million, a PE ratio of -3.15 and a beta of 0.85. Scorpio Tankers has a 52 week low of $10.58 and a 52 week high of $24.67.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Friday, December 3rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, December 2nd. Scorpio Tankers’s dividend payout ratio is -8.21%.

A number of institutional investors have recently bought and sold shares of STNG. BlackRock Inc. lifted its position in Scorpio Tankers by 1.8% in the 3rd quarter. BlackRock Inc. now owns 3,768,203 shares of the shipping company’s stock worth $69,863,000 after buying an additional 66,059 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Scorpio Tankers by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,694,679 shares of the shipping company’s stock worth $59,418,000 after buying an additional 102,489 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Scorpio Tankers by 218.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 930,316 shares of the shipping company’s stock worth $20,511,000 after buying an additional 638,200 shares in the last quarter. Morgan Stanley lifted its position in Scorpio Tankers by 38.2% in the 3rd quarter. Morgan Stanley now owns 895,779 shares of the shipping company’s stock worth $16,608,000 after buying an additional 247,474 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Scorpio Tankers by 152.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 536,600 shares of the shipping company’s stock worth $11,832,000 after buying an additional 324,400 shares in the last quarter. 45.52% of the stock is owned by hedge funds and other institutional investors.

About Scorpio Tankers

Scorpio Tankers, Inc engages in the provision of marine transportation of petroleum products. It operates through the following segments: Handymax, MR, LR1/Panamax, and LR2/Aframax. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.

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

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