Scorpio Tankers (NYSE:STNG) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Scorpio Tankers (NYSE:STNG) issued its quarterly earnings results on Wednesday. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08), Zacks reports. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%.

Scorpio Tankers Stock Performance

Shares of Scorpio Tankers stock traded down $0.26 during trading on Wednesday, hitting $47.92. 865,120 shares of the stock were exchanged, compared to its average volume of 1,042,977. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. Scorpio Tankers has a 12 month low of $45.43 and a 12 month high of $84.67. The stock’s fifty day moving average is $49.64 and its 200 day moving average is $60.28. The stock has a market cap of $2.42 billion, a PE ratio of 3.44 and a beta of 0.08.

Wall Street Analyst Weigh In

A number of research firms have commented on STNG. Evercore ISI decreased their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Bank of America decreased their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Jefferies Financial Group lowered their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.75.

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.