Scorpio Tankers Inc. (NYSE:STNG) – Analysts at Jefferies Group upped their Q1 2018 EPS estimates for Scorpio Tankers in a research report issued on Wednesday. Jefferies Group analyst R. Giveans now forecasts that the shipping company will earn ($0.06) per share for the quarter, up from their previous forecast of ($0.13). Jefferies Group has a “Buy” rating and a $5.00 price objective on the stock. Jefferies Group also issued estimates for Scorpio Tankers’ Q2 2018 earnings at ($0.05) EPS and FY2018 earnings at $0.04 EPS.
A number of other research analysts have also recently commented on STNG. Morgan Stanley lowered their price target on Scorpio Tankers from $5.00 to $3.50 and set an “overweight” rating on the stock in a report on Monday, February 12th. Credit Suisse Group lowered their price target on Scorpio Tankers from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday. ValuEngine cut Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Finally, Stifel Nicolaus set a $7.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a report on Sunday, October 29th. Three analysts have rated the stock with a sell rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $5.67.
Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, February 14th. The shipping company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.06). Scorpio Tankers had a negative return on equity of 6.99% and a negative net margin of 30.86%. The business had revenue of $148.40 million during the quarter, compared to analysts’ expectations of $148.90 million. During the same period in the prior year, the firm posted ($0.18) earnings per share. The firm’s revenue for the quarter was up 39.9% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its holdings in shares of Scorpio Tankers by 2,511.5% during the 4th quarter. Millennium Management LLC now owns 940,185 shares of the shipping company’s stock worth $2,868,000 after acquiring an additional 904,183 shares in the last quarter. Steelhead Partners LLC purchased a new stake in shares of Scorpio Tankers during the 4th quarter worth approximately $1,678,000. Teachers Advisors LLC raised its holdings in shares of Scorpio Tankers by 24.0% during the 4th quarter. Teachers Advisors LLC now owns 400,255 shares of the shipping company’s stock worth $1,221,000 after acquiring an additional 77,343 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Scorpio Tankers by 9.6% during the 4th quarter. California State Teachers Retirement System now owns 377,205 shares of the shipping company’s stock worth $1,150,000 after acquiring an additional 33,062 shares in the last quarter. Finally, QS Investors LLC raised its holdings in shares of Scorpio Tankers by 161.8% during the 4th quarter. QS Investors LLC now owns 728,783 shares of the shipping company’s stock worth $2,223,000 after acquiring an additional 450,455 shares in the last quarter. 60.00% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Stockholders of record on Monday, March 12th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, March 9th. This represents a $0.04 annualized dividend and a dividend yield of 1.72%. Scorpio Tankers’s dividend payout ratio (DPR) is -5.33%.
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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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