Scorpio Tankers (STNG) Dips More Than Broader Market: What You Should Know
The latest trading session saw Scorpio Tankers (STNG) ending at $64.32, denoting a -0.83% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.34%. On the other hand, the Dow registered a gain of 0.03%, and the technology-centric Nasdaq decreased by 0.56%.
Shares of the shipping company witnessed a gain of 19.8% over the previous month, beating the performance of the Transportation sector with its gain of 2.57% and the S&P 500's gain of 2.56%.
Market participants will be closely following the financial results of Scorpio Tankers in its upcoming release. The company is forecasted to report an EPS of $2.63, showcasing a 37.97% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $325.83 million, down 29.21% from the prior-year quarter.
Any recent changes to analyst estimates for Scorpio Tankers should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.33% decrease. As of now, Scorpio Tankers holds a Zacks Rank of #3 (Hold).
In the context of valuation, Scorpio Tankers is at present trading with a Forward P/E ratio of 6.54. This represents a discount compared to its industry's average Forward P/E of 7.11.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 30% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Scorpio Tankers Inc. (STNG) : Free Stock Analysis Report
