Scorpio Tankers Inc. (STNG) to Distribute Quarterly Dividend of $0.45 on August 31st

Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Wednesday, July 29th. Shareholders of record on Monday, August 17th will be given a dividend of 0.45 per share by the shipping company on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, August 17th.

Scorpio Tankers has raised its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 2 years. Scorpio Tankers has a payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $5.82 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 30.9%.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $79.39 on Friday. The company has a market cap of $4.00 billion, a PE ratio of 4.96 and a beta of -0.22. Scorpio Tankers has a 12 month low of $44.63 and a 12 month high of $87.39. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.93 and a quick ratio of 6.89. The company has a 50-day simple moving average of $76.89 and a 200-day simple moving average of $75.31.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, beating analysts’ consensus estimates of $4.56 by $0.12. The business had revenue of $408.73 million during the quarter, compared to analyst estimates of $398.25 million. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The company’s revenue was up 77.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 earnings per share. On average, equities analysts anticipate that Scorpio Tankers will post 11.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STNG. Bank of America downgraded Scorpio Tankers from a “buy” rating to an “underperform” rating and cut their price target for the company from $100.00 to $78.00 in a report on Tuesday, June 30th. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Morgan Stanley set a $82.00 target price on Scorpio Tankers and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, BTIG Research increased their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.57.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.