Scorpio Tankers Inc. Plans Quarterly Dividend of $0.13 (stng)
Scorpio Tankers Inc. (NASDAQ:stng) declared a quarterly dividend on Monday, November 14th. Shareholders of record on Friday, November 25th will be given a dividend of 0.125 per share on Thursday, December 22nd. This represents a $0.50 dividend on an annualized basis and a yield of 12.79%. The ex-dividend date of this dividend is Tuesday, November 22nd.
Scorpio Tankers (NASDAQ:STNG) opened at 3.91 on Tuesday. The stock has a 50 day moving average price of $4.36 and a 200 day moving average price of $4.92. The company has a market cap of $631.00 million and a price-to-earnings ratio of 4.48. Scorpio Tankers has a 52 week low of $3.61 and a 52 week high of $9.16.
Scorpio Tankers (NASDAQ:STNG) last announced its earnings results on Monday, November 14th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The firm earned $114.34 million during the quarter, compared to analysts’ expectations of $118.30 million. During the same quarter in the previous year, the firm earned $0.46 EPS. The firm’s revenue was down 49.9% on a year-over-year basis. On average, equities analysts forecast that Scorpio Tankers will post $0.12 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and issued a $4.50 target price (down previously from $6.00) on shares of Scorpio Tankers in a research note on Friday, August 26th. Deutsche Bank AG set a $9.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Jefferies Group set a $7.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, Clarkson Capital downgraded Scorpio Tankers from a “buy” rating to a “neutral” rating in a research note on Monday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.88.
Several large investors have recently bought and sold shares of STNG. The Manufacturers Life Insurance Company bought a new stake in Scorpio Tankers during the third quarter valued at about $494,000. KCG Holdings Inc. increased its stake in Scorpio Tankers by 330.7% in the third quarter. KCG Holdings Inc. now owns 121,507 shares of the company’s stock valued at $563,000 after buying an additional 93,295 shares in the last quarter. California State Teachers Retirement System increased its stake in Scorpio Tankers by 1.0% in the third quarter. California State Teachers Retirement System now owns 346,134 shares of the company’s stock valued at $1,603,000 after buying an additional 3,300 shares in the last quarter. SG Americas Securities LLC bought a new stake in Scorpio Tankers during the third quarter valued at about $157,000. Finally, Rhumbline Advisers increased its stake in Scorpio Tankers by 1.2% in the third quarter. Rhumbline Advisers now owns 208,753 shares of the company’s stock valued at $967,000 after buying an additional 2,530 shares in the last quarter.
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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