Scorpio Tankers Inc. (NYSE:STNG) Announces $0.40 Quarterly Dividend

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.40 per share by the shipping company on Friday, December 13th. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, November 22nd.

Scorpio Tankers has raised its dividend by an average of 38.0% per year over the last three years. Scorpio Tankers has a payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $9.11 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 17.6%.

Scorpio Tankers Trading Down 1.3 %

Shares of STNG traded down $0.77 during mid-day trading on Wednesday, reaching $58.55. The company had a trading volume of 130,951 shares, compared to its average volume of 911,786. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 5.47 and a beta of 0.15. Scorpio Tankers has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $68.85 and a 200-day simple moving average of $74.06.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.14. The firm had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. Scorpio Tankers’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 earnings per share. On average, sell-side analysts anticipate that Scorpio Tankers will post 11.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STNG. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Evercore ISI increased their target price on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Finally, StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Scorpio Tankers has a consensus rating of “Hold” and a consensus price target of $82.40.

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.