Scorpio Tankers Inc. (STNG) Announces Quarterly Dividend of $0.01
Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Investors of record on Wednesday, December 13th will be given a dividend of 0.01 per share by the shipping company on Thursday, December 28th. This represents a $0.04 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, December 12th.
Scorpio Tankers has increased its dividend payment by an average of 56.7% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Scorpio Tankers has a dividend payout ratio of -17.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Scorpio Tankers to earn $0.46 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 8.7%.
Shares of Scorpio Tankers (STNG) opened at $3.40 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.36 and a debt-to-equity ratio of 1.28. Scorpio Tankers has a 1 year low of $3.20 and a 1 year high of $4.93.
Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, November 16th. The shipping company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The firm had revenue of $123.20 million for the quarter, compared to analysts’ expectations of $129.54 million. Scorpio Tankers had a negative net margin of 29.58% and a negative return on equity of 5.63%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.11) EPS. analysts predict that Scorpio Tankers will post -0.23 earnings per share for the current fiscal year.
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A number of research firms recently commented on STNG. Stifel Nicolaus set a $8.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub cut Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $5.50 price target (down previously from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. Credit Suisse Group set a $7.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. Scorpio Tankers presently has a consensus rating of “Buy” and a consensus price target of $6.44.
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, 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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