Scorpio Tankers Inc. (NYSE:STNG) Plans Quarterly Dividend of $0.40

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Monday, October 28th,Zacks Dividends reports. Stockholders of record on Friday, November 22nd will be paid a dividend of 0.40 per share by the shipping company on Friday, December 13th. This represents a $1.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, November 22nd.

Scorpio Tankers has increased its dividend payment by an average of 38.0% annually over the last three years. Scorpio Tankers has a payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Scorpio Tankers to earn $9.22 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 17.4%.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $55.71 on Wednesday. Scorpio Tankers has a 52 week low of $52.68 and a 52 week high of $84.67. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 3.99 and a beta of 0.18. The company has a 50-day simple moving average of $64.69 and a 200 day simple moving average of $72.48. 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 (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. During the same quarter in the previous year, the company posted $1.91 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts predict that Scorpio Tankers will post 11.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on STNG. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Evercore ISI dropped their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Bank of America decreased their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered 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 three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.40.

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.