Brokers Offer Predictions for Scorpio Tankers Inc.’s FY2016 Earnings (STNG)
Scorpio Tankers Inc. (NASDAQ:STNG) – Seaport Global Securities issued their FY2016 earnings per share estimates for Scorpio Tankers in a report released on Monday. Seaport Global Securities analyst M. Fyhr forecasts that the brokerage will post earnings per share of ($0.18) for the year. Seaport Global Securities also issued estimates for Scorpio Tankers’ Q4 2016 earnings at ($0.30) EPS.
Scorpio Tankers (NASDAQ:STNG) last announced its quarterly earnings data on Monday, November 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The business had revenue of $114.34 million for the quarter, compared to analyst estimates of $118.30 million. Scorpio Tankers’s revenue was down 49.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 earnings per share.
Other research analysts also recently issued research reports about the stock. Jefferies Group restated a “buy” rating and set a $6.00 price target on shares of Scorpio Tankers in a research report on Wednesday. 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. Zacks Investment Research downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Credit Suisse Group AG restated a “buy” rating and set a $7.00 price target on shares of Scorpio Tankers in a research report on Monday, October 17th. Finally, Morgan Stanley restated an “equal weight” rating and set a $4.50 price target (down previously from $6.00) on shares of Scorpio Tankers in a research report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $5.38.
Shares of Scorpio Tankers (NASDAQ:STNG) traded up 0.115% during mid-day trading on Thursday, reaching $4.365. 2,371,981 shares of the company’s stock traded hands. The stock has a market capitalization of $704.43 million and a PE ratio of 5.006. The company’s 50-day moving average price is $4.31 and its 200-day moving average price is $4.86. Scorpio Tankers has a 12-month low of $3.61 and a 12-month high of $9.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Friday, November 25th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $0.50 annualized dividend and a yield of 11.47%.
A number of hedge funds have recently made changes to their positions in STNG. LPL Financial LLC acquired a new stake in shares of Scorpio Tankers during the third quarter valued at about $119,000. Cetera Advisors LLC acquired a new stake in shares of Scorpio Tankers during the third quarter valued at about $143,000. RBF Capital LLC acquired a new stake in shares of Scorpio Tankers during the third quarter valued at about $106,000. Clinton Group Inc. boosted its stake in shares of Scorpio Tankers by 28.4% in the third quarter. Clinton Group Inc. now owns 212,041 shares of the company’s stock valued at $982,000 after buying an additional 46,909 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Scorpio Tankers during the third quarter valued at about $494,000.
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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