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

Scorpio Tankers Inc. (NYSE:STNG) announced 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 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, November 22nd.

Scorpio Tankers has raised its dividend payment by an average of 38.0% annually over the last three years. Scorpio Tankers has a payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities 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

STNG opened at $54.69 on Thursday. The company has a 50 day simple moving average of $64.69 and a two-hundred day simple moving average of $72.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a market cap of $2.76 billion, a P/E ratio of 3.92 and a beta of 0.18. Scorpio Tankers has a 1-year low of $52.68 and a 1-year high of $84.67.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The firm had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.91 earnings per share. Equities analysts forecast that Scorpio Tankers will post 11.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Bank of America dropped their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Evercore ISI cut their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Scorpio Tankers 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.