FY2024 EPS Estimate for Scorpio Tankers Decreased by Analyst

Scorpio Tankers Inc. (NYSE:STNG) – B. Riley lowered their FY2024 earnings per share estimates for Scorpio Tankers in a research report issued on Thursday, October 24th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $10.29 for the year, down from their prior estimate of $11.85. The consensus estimate for Scorpio Tankers’ current full-year earnings is $11.46 per share. B. Riley also issued estimates for Scorpio Tankers’ Q4 2024 earnings at $1.44 EPS.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The company had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. During the same quarter last year, the company earned $2.41 earnings per share. The company’s revenue for the quarter was up 15.6% on a year-over-year basis.

Other research analysts also recently issued reports about the stock. Evercore ISI increased their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday. Finally, Bank of America lowered their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $82.40.

Scorpio Tankers Stock Down 2.7 %

STNG opened at $59.32 on Monday. Scorpio Tankers has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The firm has a market capitalization of $3.24 billion, a P/E ratio of 5.50 and a beta of 0.15. The company’s 50-day moving average is $69.09 and its 200 day moving average is $74.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63.

Institutional Investors Weigh In On Scorpio Tankers

A number of large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its position in shares of Scorpio Tankers by 8,249.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after purchasing an additional 1,857,668 shares during the period. LSV Asset Management raised its stake in Scorpio Tankers by 118.1% in the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock worth $131,594,000 after buying an additional 995,978 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after buying an additional 549,395 shares during the period. Hartree Partners LP boosted its position in Scorpio Tankers by 634.5% during the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock valued at $37,313,000 after acquiring an additional 450,498 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Scorpio Tankers by 1,357.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock worth $23,034,000 after acquiring an additional 264,049 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Company Profile

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.