Scorpio Tankers Inc. (STNG) Expected to Post Quarterly Sales of $150.75 Million
Wall Street brokerages expect that Scorpio Tankers Inc. (NYSE:STNG) will report $150.75 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Scorpio Tankers’ earnings. The lowest sales estimate is $142.40 million and the highest is $166.13 million. Scorpio Tankers reported sales of $106.07 million in the same quarter last year, which indicates a positive year over year growth rate of 42.1%. The business is expected to report its next earnings report on Monday, February 12th.
According to Zacks, analysts expect that Scorpio Tankers will report full year sales of $150.75 million for the current year, with estimates ranging from $502.02 million to $525.75 million. For the next financial year, analysts forecast that the business will post sales of $767.05 million per share, with estimates ranging from $609.30 million to $896.77 million. Zacks’ sales averages are an average based on a survey of analysts that follow Scorpio Tankers.
Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The business had revenue of $123.20 million during the quarter, compared to the consensus estimate of $129.54 million. Scorpio Tankers had a negative return on equity of 6.47% and a negative net margin of 31.12%. Scorpio Tankers’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) earnings per share.
Several brokerages have recently commented on STNG. Stifel Nicolaus reiterated a “buy” rating and set a $7.00 price objective (down from $8.00) on shares of Scorpio Tankers in a research report on Wednesday, September 20th. UBS Group upgraded Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 price objective on the stock in a research report on Monday, November 13th. Jefferies Group began coverage on Scorpio Tankers in a research report on Monday, December 18th. They set a “buy” rating and a $5.00 price objective on the stock. Credit Suisse Group reiterated a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Finally, Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. Scorpio Tankers currently has a consensus rating of “Buy” and an average price target of $6.28.
Several large investors have recently made changes to their positions in the company. GSA Capital Partners LLP raised its position in shares of Scorpio Tankers by 1,628.8% in the 3rd quarter. GSA Capital Partners LLP now owns 669,353 shares of the shipping company’s stock worth $2,296,000 after acquiring an additional 630,636 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Scorpio Tankers by 2,287.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 293,141 shares of the shipping company’s stock worth $1,005,000 after acquiring an additional 280,865 shares in the last quarter. Monarch Alternative Capital LP bought a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $32,371,000. Lasry Marc bought a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $19,205,000. Finally, Caxton Associates LP bought a new position in Scorpio Tankers during the 3rd quarter valued at approximately $343,000. 59.04% of the stock is owned by hedge funds and other institutional investors.
Scorpio Tankers (STNG) opened at $3.11 on Thursday. The firm has a market capitalization of $990.97, a PE ratio of -3.94 and a beta of 1.58. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.59. Scorpio Tankers has a one year low of $2.99 and a one year high of $4.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.29%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio (DPR) is currently -5.06%.
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, 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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