Scorpio Tankers Inc. Forecasted to Post Q4 2017 Earnings of $0.04 Per Share (STNG)
Scorpio Tankers Inc. (NASDAQ:STNG) – Jefferies Group lifted their Q4 2017 earnings per share (EPS) estimates for shares of Scorpio Tankers in a report released on Thursday. Jefferies Group analyst D. Mavrinac now anticipates that the shipping company will post earnings of $0.04 per share for the quarter, up from their prior forecast of $0.03. Jefferies Group has a “Buy” rating and a $5.50 price target on the stock. Jefferies Group also issued estimates for Scorpio Tankers’ FY2018 earnings at $0.55 EPS.
Scorpio Tankers (NASDAQ:STNG) last announced its earnings results on Monday, September 18th. The shipping company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). Scorpio Tankers had a negative return on equity of 19.98% and a negative net margin of 57.63%. The business had revenue of $118.40 million for the quarter, compared to analyst estimates of $130.03 million. The business’s revenue for the quarter was down 13.7% compared to the same quarter last year. WARNING: This piece was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/22/scorpio-tankers-inc-forecasted-to-post-q4-2017-earnings-of-0-04-per-share-stng.html.
Several other research firms have also weighed in on STNG. Stifel Nicolaus set a $8.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Monday, August 28th. BidaskClub lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Credit Suisse Group set a $7.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $6.33.
Scorpio Tankers (NASDAQ STNG) opened at 3.70 on Friday. The firm’s market cap is $671.10 million. The company’s 50-day moving average is $3.56 and its 200 day moving average is $3.81. Scorpio Tankers has a one year low of $3.20 and a one year high of $4.93.
A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in Scorpio Tankers by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 124,670 shares of the shipping company’s stock valued at $495,000 after purchasing an additional 1,315 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Scorpio Tankers by 5.1% during the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after acquiring an additional 1,316 shares during the last quarter. Comerica Securities Inc. boosted its holdings in Scorpio Tankers by 0.5% during the 2nd quarter. Comerica Securities Inc. now owns 423,883 shares of the shipping company’s stock worth $1,683,000 after acquiring an additional 2,061 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Scorpio Tankers by 0.8% during the 2nd quarter. Wells Fargo & Company MN now owns 558,058 shares of the shipping company’s stock worth $2,215,000 after acquiring an additional 4,320 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in Scorpio Tankers by 4.0% during the 2nd quarter. Nationwide Fund Advisors now owns 131,118 shares of the shipping company’s stock worth $521,000 after acquiring an additional 5,041 shares during the last quarter.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 25th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, September 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 1.08%.
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, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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