Scorpio Tankers Inc. (stng) Plans Quarterly Dividend of $0.13
Scorpio Tankers Inc. (NASDAQ:stng) declared a quarterly dividend on Monday, November 14th. Investors of record on Friday, November 25th will be paid a dividend of 0.125 per share on Thursday, December 22nd. This represents a $0.50 dividend on an annualized basis and a dividend 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. Scorpio Tankers has a 12 month low of $3.61 and a 12 month high of $9.16. The company’s 50 day moving average is $4.36 and its 200-day moving average is $4.92. The company has a market cap of $631.00 million and a price-to-earnings ratio of 4.48.
Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings results on Monday, November 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $114.34 million for the quarter, compared to the consensus estimate of $118.30 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s revenue was down 49.9% compared to the same quarter last year. On average, analysts expect that Scorpio Tankers will post $0.12 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on STNG shares. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. Deutsche Bank AG set a $9.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Monday, August 1st. Jefferies Group set a $7.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $4.50 target price (down from $6.00) on shares of Scorpio Tankers in a report on Friday, August 26th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $7.00 target price on shares of Scorpio Tankers in a report on Monday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.88.
Several institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Scorpio Tankers by 151.0% in the second quarter. FMR LLC now owns 7,555,147 shares of the company’s stock valued at $31,732,000 after buying an additional 4,545,067 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Scorpio Tankers by 15.6% in the second quarter. Vanguard Group Inc. now owns 6,258,979 shares of the company’s stock valued at $26,288,000 after buying an additional 844,186 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Scorpio Tankers by 8.4% in the third quarter. BlackRock Fund Advisors now owns 4,146,312 shares of the company’s stock valued at $19,197,000 after buying an additional 319,881 shares during the last quarter. Carlson Capital L P bought a new stake in shares of Scorpio Tankers during the second quarter valued at approximately $16,968,000. Finally, Visium Asset Management LP bought a new stake in shares of Scorpio Tankers during the second quarter valued at approximately $7,410,000.
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.
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