Scorpio Tankers Inc. (STNG) Expected to Post FY2016 Earnings of ($0.03) Per Share
Scorpio Tankers Inc. (NASDAQ:STNG) – Equities research analysts at Jefferies Group dropped their FY2016 earnings estimates for Scorpio Tankers in a report issued on Monday. Jefferies Group analyst D. Mavrinac now anticipates that the firm will earn ($0.03) per share for the year, down from their prior estimate of $0.08. Jefferies Group has a “Buy” rating and a $6.00 price objective on the stock. Jefferies Group also issued estimates for Scorpio Tankers’ Q4 2016 earnings at ($0.14) EPS.
Scorpio Tankers (NASDAQ:STNG) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.01. The company earned $114.34 million during the quarter, compared to analysts’ expectations of $118.30 million. During the same period last year, the company earned $0.46 earnings per share. Scorpio Tankers’s quarterly revenue was down 49.9% on a year-over-year basis.
A number of other brokerages have also recently issued reports on STNG. Credit Suisse Group AG restated a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a report on Monday, October 17th. Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Deutsche Bank AG set a $9.00 price objective on Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, August 1st. Clarkson Capital cut Scorpio Tankers from a “buy” rating to a “neutral” rating in a report on Monday, October 3rd. Finally, Morgan Stanley restated an “equal weight” rating and set a $4.50 price objective (down previously from $6.00) on shares of Scorpio Tankers in a report on Friday, August 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $5.38.
Scorpio Tankers (NASDAQ:STNG) opened at 4.32 on Wednesday. The company has a market capitalization of $697.17 million and a price-to-earnings ratio of 4.95. Scorpio Tankers has a 12 month low of $3.61 and a 12 month high of $9.13. The firm has a 50-day moving average price of $4.30 and a 200-day moving average price of $4.85.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of 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 increased its position 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 in the last quarter. Princeton Alpha Management LP increased its position 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 in the last quarter. BB&T Securities LLC increased its position 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 in the last quarter. Finally, Tdam USA Inc. increased 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.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Friday, November 25th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 11.57%. The ex-dividend date is Tuesday, November 22nd.
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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