Q2 2024 EPS Estimates for Scorpio Tankers Inc. (NYSE:STNG) Boosted by B. Riley

Scorpio Tankers Inc. (NYSE:STNG) – Equities researchers at B. Riley boosted their Q2 2024 earnings per share estimates for Scorpio Tankers in a research note issued on Thursday, July 11th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings of $3.18 per share for the quarter, up from their prior forecast of $2.74. The consensus estimate for Scorpio Tankers’ current full-year earnings is $12.20 per share. B. Riley also issued estimates for Scorpio Tankers’ Q3 2024 earnings at $1.60 EPS and Q4 2024 earnings at $2.83 EPS.

Several other research analysts have also weighed in on STNG. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 9th. StockNews.com raised Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Finally, Bank of America upped their target price on Scorpio Tankers from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Scorpio Tankers Stock Up 0.9 %

NYSE:STNG opened at $77.59 on Monday. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 1.03 and a beta of 0.16. Scorpio Tankers has a 1-year low of $40.34 and a 1-year high of $84.67. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average price is $80.12 and its 200 day moving average price is $72.71.

Scorpio Tankers (NYSE:STNG) last announced 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. The company had revenue of $389.76 million for the quarter, compared to analyst estimates of $381.46 million. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Institutional Trading of Scorpio Tankers

Large investors have recently made changes to their positions in the stock. Moody Aldrich Partners LLC boosted its stake in Scorpio Tankers by 34.6% during the 4th quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company’s stock valued at $7,490,000 after purchasing an additional 31,649 shares during the period. Bluefin Capital Management LLC bought a new stake in Scorpio Tankers during the 4th quarter valued at approximately $1,003,000. International Assets Investment Management LLC boosted its stake in Scorpio Tankers by 4,706.2% during the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock valued at $59,025,000 after purchasing an additional 950,600 shares during the period. Mackenzie Financial Corp bought a new stake in Scorpio Tankers during the 4th quarter valued at approximately $3,772,000. Finally, BNP Paribas Financial Markets boosted its stake in Scorpio Tankers by 37.0% during the 1st quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company’s stock valued at $6,356,000 after purchasing an additional 23,975 shares during the period. Institutional investors own 54.64% of the company’s stock.

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.