Scorpio Tankers Inc. (NYSE: STNG) stock fell -4.61% on Monday to $46.79 against a previous-day closing price of $49.05. With 2.69 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.32 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $48.80 whereas the lowest price it dropped to was $46.43. The 52-week range on STNG shows that it touched its highest point at $57.71 and its lowest point at $11.02 during that stretch. It currently has a 1-year price target of $64.42. With its current market cap of 2.82 billion, STNG has annualized dividend of $0.40 while the current yield stands at 0.85%. Beta for the stock currently stands at 0.54.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of STNG was down-trending over the past week, with a drop of -8.67%, but this was down by -14.73% over a month. Three-month performance dropped to -2.62% while six-month performance rose 24.24%. The stock gained 271.05% in the past year, while it has lost -12.98% so far this year. A look at the trailing 12-month EPS for STNG yields 4.85 with Next year EPS estimates of 9.39. For the next quarter, that number is 4.36. This implies an EPS growth rate of -356.70% for this year and -19.21% for next year. EPS is expected to grow by 42.50% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -22.60%.
Float and Shares Shorts:
At present, 55.00 million STNG shares are outstanding with a float of 48.45 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.32 million, which was 7.32% higher than short shares on Sep 14, 2022. In addition to Mr. Emanuele A. Lauro as the firm’s Founder, Chairman & CEO, Mr. Robert L. Bugbee serves as its Pres & Director.
Through their ownership of 53.53% of STNG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 34.50% of STNG, in contrast to 23.19% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in STNG with 5.23% of the stake, Dimensional Fund Advisors LP holds 3,109,243 shares worth 3,109,243. A second-largest stockholder of STNG, BlackRock Fund Advisors, holds 2,347,030 shares, controlling over 3.95% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in STNG, holding 2,251,820 shares or 3.79% stake. With a 1.76% stake in STNG, the iShares Russell 2000 ETF is the largest stakeholder. A total of 1,047,823 shares are owned by the mutual fund manager. The DFA US Small Cap Value Portfolio, which owns about 1.31% of STNG stock, is the second-largest Mutual Fund holder. It holds 778,246 shares valued at 41.85 million. Magallanes European Equity, FI holds 1.13% of the stake in STNG, owning 668,366 shares worth 35.94 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for STNG since 13 analysts follow the stock currently. There are 12 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With STNG analysts setting a high price target of $85.50 and a low target of $55.00, the average target price over the next 12 months is $67.82. Based on these targets, STNG could surge 82.73% to reach the target high and rise by 17.55% to reach the target low. Reaching the average price target will result in a growth of 44.95% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. STNG will report FY 2022 earnings on 02/12/2024. Analysts have provided yearly estimates in a range of $13.97 being high and $9.64 being low. For STNG, this leads to a yearly average estimate of $11.91. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Scorpio Tankers Inc. surprised analysts by $0.18 when it reported $4.29 EPS against a consensus estimate of $4.11. The surprise factor in the prior quarter was $0.26. Based on analyst estimates, the high estimate for the next quarter is $5.05 and the low estimate is $2.42. The average estimate for the next quarter is thus $4.45.