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

Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.40 per share by the shipping company on Friday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, June 14th.

Scorpio Tankers has increased its dividend by an average of 38.0% annually over the last three years and has increased its dividend annually for the last 1 consecutive years.

Scorpio Tankers Stock Up 3.4 %

Shares of STNG traded up $2.63 during midday trading on Friday, hitting $79.38. 240,414 shares of the company’s stock traded hands, compared to its average volume of 1,086,120. Scorpio Tankers has a 1 year low of $40.34 and a 1 year high of $79.49. The firm’s fifty day moving average is $70.97 and its 200-day moving average is $64.83. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, beating the consensus estimate of $3.72 by $0.25. The firm had revenue of $389.76 million during the quarter, compared to analyst estimates of $381.46 million. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. As a group, sell-side analysts anticipate that Scorpio Tankers will post 12.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on STNG shares. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Thursday. Evercore ISI raised their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price target on shares of Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, Bank of America raised their price target on shares of Scorpio Tankers from $76.00 to $82.00 and gave the company a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.17.

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.