Scorpio Tankers (STNG) Declines More Than Market: Some Information for Investors
The most recent trading session ended with Scorpio Tankers (STNG) standing at $55.69, reflecting a -1.47% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 1.43%. Meanwhile, the Dow experienced a drop of 0.32%, and the technology-dominated Nasdaq saw a decrease of 2.43%.
The shipping company's shares have seen an increase of 4.03% over the last month, surpassing the Transportation sector's loss of 5.91% and the S&P 500's loss of 1.55%.
Investors will be eagerly watching for the performance of Scorpio Tankers in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 9, 2023. The company's earnings per share (EPS) are projected to be $1.63, reflecting a 62% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $282.24 million, showing a 38.14% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $9.25 per share and a revenue of $1.31 billion, demonstrating changes of -18.57% and -11.23%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Scorpio Tankers. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% higher. Currently, Scorpio Tankers is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Scorpio Tankers is presently trading at a Forward P/E ratio of 6.11. This expresses a discount compared to the average Forward P/E of 7.38 of its industry.
It is also worth noting that STNG currently has a PEG ratio of 0.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Transportation - Shipping industry stood at 1.11 at the close of the market yesterday.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Scorpio Tankers Inc. (STNG) : Free Stock Analysis Report
