Scorpio Tankers Inc. (NYSE:STNG) to Issue $0.40 Quarterly Dividend

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Investors of record on Friday, March 7th will be given a dividend of 0.40 per share by the shipping company on Friday, March 21st. This represents a $1.60 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, March 7th.

Scorpio Tankers has raised its dividend payment by an average of 58.7% annually over the last three years. Scorpio Tankers has a dividend payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Scorpio Tankers to earn $4.86 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 32.9%.

Scorpio Tankers Stock Down 6.4 %

STNG opened at $44.78 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 3.21 and a beta of 0.08. Scorpio Tankers has a twelve month low of $44.00 and a twelve month high of $84.67. The company’s 50-day moving average price is $49.52 and its two-hundred day moving average price is $60.03.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. As a group, equities analysts expect that Scorpio Tankers will post 9.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America dropped 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 note on Tuesday, October 22nd. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Evercore ISI lowered 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. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and two have issued 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.

About Scorpio Tankers

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.