Q3 2018 EPS Estimates for Scorpio Tankers Inc. Reduced by Seaport Global Securities (STNG)

Scorpio Tankers Inc. (NYSE:STNG) – Research analysts at Seaport Global Securities lowered their Q3 2018 earnings per share estimates for Scorpio Tankers in a note issued to investors on Monday, October 15th. Seaport Global Securities analyst M. Fyhr now forecasts that the shipping company will post earnings per share of ($0.25) for the quarter, down from their prior estimate of ($0.21). Seaport Global Securities also issued estimates for Scorpio Tankers’ Q4 2018 earnings at ($0.04) EPS, FY2018 earnings at ($0.48) EPS, Q1 2019 earnings at ($0.05) EPS, Q3 2019 earnings at ($0.02) EPS, Q4 2019 earnings at ($0.02) EPS and FY2019 earnings at ($0.10) EPS.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, July 31st. The shipping company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Scorpio Tankers had a negative return on equity of 9.08% and a negative net margin of 31.44%. The firm had revenue of $141.80 million during the quarter, compared to analysts’ expectations of $144.35 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. Scorpio Tankers’s revenue was up 19.8% on a year-over-year basis.

STNG has been the subject of a number of other reports. Stifel Nicolaus set a $5.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Tuesday, July 31st. ValuEngine upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. BTIG Research began coverage on shares of Scorpio Tankers in a research note on Thursday, September 27th. They set a “buy” rating and a $3.00 target price for the company. Finally, Deutsche Bank set a $4.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Wednesday, October 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $4.03.

Shares of STNG opened at $1.75 on Thursday. The firm has a market cap of $666.58 million, a price-to-earnings ratio of -3.83 and a beta of 1.06. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. Scorpio Tankers has a 1-year low of $1.72 and a 1-year high of $3.71.

A number of institutional investors and hedge funds have recently made changes to their positions in STNG. Evermore Global Advisors LLC bought a new stake in shares of Scorpio Tankers during the 2nd quarter valued at $20,244,000. Benefit Street Partners LLC bought a new stake in shares of Scorpio Tankers during the 2nd quarter valued at $19,285,000. Dimensional Fund Advisors LP grew its position in shares of Scorpio Tankers by 14.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,792,389 shares of the shipping company’s stock valued at $42,713,000 after acquiring an additional 2,743,205 shares during the period. BlackRock Inc. grew its position in shares of Scorpio Tankers by 18.5% during the 2nd quarter. BlackRock Inc. now owns 14,380,319 shares of the shipping company’s stock valued at $40,407,000 after acquiring an additional 2,248,469 shares during the period. Finally, Precocity Capital LP bought a new stake in shares of Scorpio Tankers during the 2nd quarter valued at $4,637,000. Institutional investors and hedge funds own 60.65% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Shareholders of record on Thursday, September 20th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, September 19th. This represents a $0.04 dividend on an annualized basis and a yield of 2.29%. Scorpio Tankers’s dividend payout ratio is presently -8.51%.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

Further Reading: Average Daily Trade Volume Explained

Earnings History and Estimates for Scorpio Tankers (NYSE:STNG)

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