Q3 2016 EPS Estimates for Scorpio Tankers Inc. Lowered by Seaport Global Securities (STNG)
Scorpio Tankers Inc. (NASDAQ:STNG) – Equities research analysts at Seaport Global Securities dropped their Q3 2016 earnings per share estimates for Scorpio Tankers in a research note issued on Tuesday. Seaport Global Securities analyst M. Fyhr now forecasts that the brokerage will post earnings per share of ($0.20) for the quarter, down from their previous forecast of ($0.18). Seaport Global Securities also issued estimates for Scorpio Tankers’ Q4 2016 earnings at ($0.18) EPS and FY2017 earnings at $0.29 EPS.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. ABN Amro cut shares of Scorpio Tankers from a “buy” rating to a “sell” rating in a research note on Thursday, June 30th. Deutsche Bank AG set a $9.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a research note on Monday, August 1st. Jefferies Group set a $7.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $4.50 price objective (down previously from $6.00) on shares of Scorpio Tankers in a research note on Friday, August 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $6.83.
Shares of Scorpio Tankers (NASDAQ:STNG) traded down 1.54% during trading on Thursday, reaching $4.48. 1,448,006 shares of the company traded hands. Scorpio Tankers has a 12-month low of $4.05 and a 12-month high of $9.83. The company has a 50 day moving average price of $4.81 and a 200 day moving average price of $5.20. The firm has a market capitalization of $722.99 million and a price-to-earnings ratio of 5.14.
Scorpio Tankers (NASDAQ:STNG) last announced its earnings results on Thursday, July 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.03. The firm had revenue of $137.21 million for the quarter, compared to the consensus estimate of $146.20 million. During the same quarter last year, the firm earned $0.32 EPS. The company’s quarterly revenue was down 27.2% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 10.99%. The ex-dividend date of this dividend was Tuesday, September 13th.
A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Scorpio Tankers by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 14,295,416 shares of the company’s stock valued at $60,042,000 after buying an additional 320,647 shares in the last quarter. Boston Partners raised its stake in shares of Scorpio Tankers by 7.8% in the second quarter. Boston Partners now owns 2,680,970 shares of the company’s stock valued at $11,260,000 after buying an additional 194,540 shares during the period. Princeton Alpha Management LP raised its stake in shares of Scorpio Tankers by 64.4% in the second quarter. Princeton Alpha Management LP now owns 67,129 shares of the company’s stock valued at $282,000 after buying an additional 26,298 shares during the period. BB&T Securities LLC raised its stake in shares of Scorpio Tankers by 30.3% in the second quarter. BB&T Securities LLC now owns 201,991 shares of the company’s stock valued at $848,000 after buying an additional 46,943 shares during the period. Finally, Tdam USA Inc. raised its stake 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 during the period.
Scorpio Tankers Company Profile
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.
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