Seaport Global Securities Comments on Scorpio Tankers Inc.’s Q4 2017 Earnings (STNG)
Scorpio Tankers Inc. (NASDAQ:STNG) – Investment analysts at Seaport Global Securities reduced their Q4 2017 earnings per share (EPS) estimates for shares of Scorpio Tankers in a report released on Monday. Seaport Global Securities analyst M. Fyhr now forecasts that the firm will post earnings of $0.08 per share for the quarter, down from their prior forecast of $0.09.
Several other research analysts have also commented on the company. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. 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 Scorpio Tankers and gave the stock a “buy” rating in a research report on Monday, August 1st. Morgan Stanley restated an “equal weight” rating and set a $4.50 price target (down from $6.00) on shares of Scorpio Tankers in a research report on Friday, August 26th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $7.00 price objective on shares of Scorpio Tankers in a research note on Monday, October 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.38.
Scorpio Tankers (NASDAQ:STNG) traded down 1.968% during mid-day trading on Wednesday, reaching $4.235. 543,768 shares of the company traded hands. The stock has a market capitalization of $683.45 million and a price-to-earnings ratio of 4.857. Scorpio Tankers has a 12-month low of $3.61 and a 12-month high of $9.13. The company’s 50-day moving average is $4.30 and its 200-day moving average is $4.86.
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 the consensus estimate of ($0.10) by $0.01. The company had revenue of $114.34 million for the quarter, compared to analyst estimates of $118.30 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was down 49.9% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the stock. Tdam USA Inc. boosted 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 last quarter. Principal Financial Group Inc. boosted its stake in Scorpio Tankers by 3.4% in the second quarter. Principal Financial Group Inc. now owns 40,873 shares of the company’s stock worth $172,000 after buying an additional 1,337 shares in the last quarter. Putnam FL Investment Management Co. boosted its stake in Scorpio Tankers by 4.9% in the third quarter. Putnam FL Investment Management Co. now owns 35,335 shares of the company’s stock worth $164,000 after buying an additional 1,640 shares in the last quarter. Wedbush Securities Inc. boosted its stake in Scorpio Tankers by 2.8% in the third quarter. Wedbush Securities Inc. now owns 69,043 shares of the company’s stock worth $320,000 after buying an additional 1,901 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Scorpio Tankers by 1.2% in the third quarter. Rhumbline Advisers now owns 208,753 shares of the company’s stock worth $967,000 after buying an additional 2,530 shares in the last quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders 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 of this dividend is Tuesday, November 22nd.
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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