Scorpio Tankers Inc. (STNG) to Issue Quarterly Dividend of $0.40 on June 28th

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.40 per share by the shipping company on Friday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, June 14th.

Scorpio Tankers has increased its dividend by an average of 38.0% per year over the last three years and has increased its dividend annually for the last 1 consecutive years.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock traded up $1.60 on Friday, reaching $78.35. 642,921 shares of the stock were exchanged, compared to its average volume of 1,090,882. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. Scorpio Tankers has a one year low of $40.34 and a one year high of $79.58. The firm has a market cap of $4.16 billion, a PE ratio of 7.72, a P/E/G ratio of 1.27 and a beta of 0.18. The firm’s 50 day moving average is $70.97 and its 200-day moving average is $64.83.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The business had revenue of $389.76 million during the quarter, compared to analysts’ expectations of $381.46 million. As a group, analysts anticipate that Scorpio Tankers will post 12.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on STNG shares. Bank of America boosted their price target on Scorpio Tankers from $76.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Thursday. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Evercore ISI increased their target price on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.17.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.