Scorpio Tankers Inc. (NASDAQ:STNG) – Equities research analysts at Seaport Global Securities lowered their Q1 2017 earnings per share (EPS) estimates for Scorpio Tankers in a report released on Tuesday. Seaport Global Securities analyst M. Fyhr now expects that the brokerage will post earnings per share of $0.06 for the quarter, down from their previous forecast 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 quarterly earnings results on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.03. The business earned $137.21 million during the quarter, compared to analysts’ expectations of $146.20 million. During the same quarter last year, the business earned $0.32 EPS. Scorpio Tankers’s revenue for the quarter was down 27.2% on a year-over-year basis.

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

STNG has been the subject of several other reports. Jefferies Group set a $7.00 price target on Scorpio Tankers and gave the company a “buy” rating in a research note on Wednesday, July 27th. Deutsche Bank AG restated 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 restated 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 Scorpio Tankers from a “buy” rating to a “neutral” rating in a research note on Monday, October 3rd. Finally, Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock 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 mid-day trading on Wednesday, hitting $4.50. The stock had a trading volume of 2,357,883 shares. The stock has a 50 day moving average price of $4.83 and a 200 day moving average price of $5.20. The firm has a market cap of $726.21 million and a PE ratio of 5.16. Scorpio Tankers has a 52 week low of $4.05 and a 52 week high of $9.83.

A number of institutional investors have recently made changes to their positions in the stock. Tdam USA Inc. boosted its position in shares of Scorpio Tankers by 1.2% in the second quarter. Tdam USA Inc. now owns 112,968 shares of the company’s stock valued at $474,000 after buying an additional 1,319 shares in the last quarter. Principal Financial Group Inc. boosted its position in Scorpio Tankers by 3.4% in the second quarter. Principal Financial Group Inc. now owns 40,873 shares of the company’s stock worth $172,000 after buying an additional 1,337 shares during the period. Alliancebernstein L.P. boosted its position in Scorpio Tankers by 1.1% in the second quarter. Alliancebernstein L.P. now owns 260,960 shares of the company’s stock worth $1,096,000 after buying an additional 2,760 shares during the period. Wall Street Access Asset Management LLC boosted its position in Scorpio Tankers by 4.9% in the second quarter. Wall Street Access Asset Management LLC now owns 107,500 shares of the company’s stock worth $451,000 after buying an additional 5,000 shares during the period. Finally, Putnam FL Investment Management Co. boosted its position in Scorpio Tankers by 19.3% in the second quarter. Putnam FL Investment Management Co. now owns 33,695 shares of the company’s stock worth $142,000 after buying an additional 5,460 shares during the period.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.50 annualized dividend and a yield of 10.82%.

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.

5 Day Chart for NASDAQ:STNG

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