Zacks: Analysts Expect Scorpio Tankers Inc. (NYSE:STNG) Will Post Earnings of $0.58 Per Share

Equities analysts expect that Scorpio Tankers Inc. (NYSE:STNG) will report earnings of $0.58 per share for the current quarter, Zacks reports. Four analysts have made estimates for Scorpio Tankers’ earnings, with estimates ranging from $0.36 to $0.70. Scorpio Tankers reported earnings of ($0.38) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 252.6%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, February 19th.

On average, analysts expect that Scorpio Tankers will report full year earnings of ($0.61) per share for the current fiscal year, with EPS estimates ranging from ($0.89) to ($0.45). For the next fiscal year, analysts forecast that the business will post earnings of $3.61 per share, with EPS estimates ranging from $2.10 to $5.90. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover Scorpio Tankers.

Several research analysts have recently commented on STNG shares. Zacks Investment Research upgraded Scorpio Tankers from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, February 4th. Evercore ISI restated a “buy” rating on shares of Scorpio Tankers in a research report on Monday, November 11th. Deutsche Bank boosted their price objective on Scorpio Tankers from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and boosted their price objective for the company from $32.00 to $37.00 in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Scorpio Tankers currently has an average rating of “Buy” and a consensus price target of $36.71.

A number of large investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in shares of Scorpio Tankers in the 4th quarter worth $31,000. Banque Cantonale Vaudoise bought a new stake in shares of Scorpio Tankers in the 4th quarter worth $79,000. Jeereddi Investments LP bought a new stake in shares of Scorpio Tankers in the 4th quarter worth $217,000. SG Americas Securities LLC bought a new stake in shares of Scorpio Tankers in the 3rd quarter worth $174,000. Finally, ProShare Advisors LLC bought a new stake in shares of Scorpio Tankers in the 4th quarter worth $235,000. Institutional investors and hedge funds own 49.93% of the company’s stock.

STNG stock traded down $0.40 during midday trading on Friday, hitting $22.82. 835,800 shares of the company’s stock were exchanged, compared to its average volume of 1,555,389. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 1.38. Scorpio Tankers has a 12-month low of $16.77 and a 12-month high of $40.45. The firm has a 50 day moving average price of $30.83 and a 200-day moving average price of $30.98. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -14.00 and a beta of 1.16.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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