B. Riley Has Pessimistic View of Scorpio Tankers Q3 Earnings

Scorpio Tankers Inc. (NYSE:STNG) – Equities research analysts at B. Riley decreased their Q3 2024 EPS estimates for Scorpio Tankers in a research note issued on Thursday, October 24th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $1.27 for the quarter, down from their prior estimate of $1.46. The consensus estimate for Scorpio Tankers’ current full-year earnings is $12.43 per share. B. Riley also issued estimates for Scorpio Tankers’ FY2025 earnings at $9.38 EPS.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.08. The business had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.41 EPS.

STNG has been the topic of a number of other reports. Evercore ISI lifted their price objective on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Finally, Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a report on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.40.

Scorpio Tankers Stock Up 1.1 %

Shares of NYSE:STNG opened at $62.02 on Friday. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 5.75, a PEG ratio of 1.81 and a beta of 0.15. The business’s 50 day moving average is $69.32 and its 200 day moving average is $74.15. Scorpio Tankers has a 12-month low of $52.68 and a 12-month high of $84.67. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. AlphaMark Advisors LLC increased its stake in shares of Scorpio Tankers by 5.9% during the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock valued at $358,000 after buying an additional 281 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Scorpio Tankers by 320.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,777 shares of the shipping company’s stock worth $628,000 after purchasing an additional 6,690 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Scorpio Tankers in the 1st quarter worth about $279,000. BNP Paribas Financial Markets boosted its stake in shares of Scorpio Tankers by 37.0% during the 1st quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock valued at $6,356,000 after purchasing an additional 23,975 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Scorpio Tankers during the first quarter valued at about $596,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

About Scorpio Tankers

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.