Scorpio Tankers Inc. (NYSE:STNG – Get Free Report) declared a quarterly dividend on Monday, October 26th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.75 per share by the shipping company on Friday, December 4th. This represents a $3.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, November 13th. This is a 66.7% increase from Scorpio Tankers’s previous quarterly dividend of $0.45.
Scorpio Tankers has raised its dividend payment by an average of 0.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Scorpio Tankers has a payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Scorpio Tankers to earn $8.72 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 34.4%.
Scorpio Tankers Stock Performance
Shares of Scorpio Tankers stock opened at $80.40 on Wednesday. The company has a 50 day moving average of $84.44 and a 200-day moving average of $77.65. Scorpio Tankers has a 1-year low of $48.93 and a 1-year high of $95.60. The company has a current ratio of 20.65, a quick ratio of 20.59 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.05 billion, a PE ratio of 4.26, a price-to-earnings-growth ratio of 1.63 and a beta of -0.10.
Scorpio Tankers (NYSE:STNG – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.43. The business had revenue of $266.47 million for the quarter, compared to analysts’ expectations of $243.98 million. Scorpio Tankers had a net margin of 77.07% and a return on equity of 17.06%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $1.49 earnings per share. As a group, equities research analysts forecast that Scorpio Tankers will post 15.59 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts recently weighed in on STNG shares. Wall Street Zen downgraded Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 14th. B. Riley Financial reiterated a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Scorpio Tankers in a research report on Thursday, October 29th. Morgan Stanley boosted their target price on Scorpio Tankers from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Evercore set a $105.00 target price on shares of Scorpio Tankers in a report on Monday, November 2nd. Finally, Needham & Company LLC set a $130.00 target price on shares of Scorpio Tankers in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.56.
Read Our Latest Research Report on STNG
About Scorpio Tankers
Scorpio Tankers Inc. is a marine transportation company focused on moving refined petroleum products around the world. Its product tankers carry cargoes such as gasoline, diesel, jet fuel and naphtha between refineries, storage facilities and end markets. The company serves international shipping routes, connecting major refining and consumption regions. Its fleet includes medium-range and larger product tankers designed to transport petroleum products across regional and long-distance routes. Scorpio Tankers was founded in 2009 and is headquartered in Monaco.
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