Scorpio Tankers (STNG) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with Scorpio Tankers (STNG) standing at $65.28, reflecting a +0.26% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow saw an upswing of 0.36%, while the tech-heavy Nasdaq appreciated by 0.32%.
The shipping company's stock has climbed by 0.84% in the past month, exceeding the Transportation sector's loss of 3.81% and lagging the S&P 500's gain of 1.61%.
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 $2.65, showcasing a 37.5% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $326.01 million, showing a 29.17% drop compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Scorpio Tankers. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Scorpio Tankers is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Scorpio Tankers has a Forward P/E ratio of 6.56 right now. For comparison, its industry has an average Forward P/E of 7.76, which means Scorpio Tankers is trading at a discount to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Scorpio Tankers Inc. (STNG) : Free Stock Analysis Report
