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

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

Scorpio Tankers Trading Down 0.5 %

STNG traded down $0.26 during trading on Wednesday, reaching $47.92. The company had a trading volume of 865,120 shares, 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 company has a market cap of $2.42 billion, a price-to-earnings ratio of 3.44 and a beta of 0.08. The firm’s 50-day simple moving average is $49.64 and its 200 day simple moving average is $60.28.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on STNG. Bank of America lowered their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock 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 on the stock in a research note on Thursday, December 12th. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, Evercore ISI decreased their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.75.

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.