Scorpio Tankers (STNG) Stock Dips While Market Gains: Key Facts
Scorpio Tankers (STNG) ended the recent trading session at $70.75, demonstrating a -1.26% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.76%. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 1.12%.
The shipping company's shares have seen an increase of 17.84% over the last month, surpassing the Transportation sector's loss of 2.7% and the S&P 500's gain of 2.5%.
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 $2.62, showcasing a 38.21% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $329.7 million, indicating a 28.37% decline compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Scorpio Tankers. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 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 0.34% higher within the past month. Scorpio Tankers currently has a Zacks Rank of #3 (Hold).
Investors should also note Scorpio Tankers's current valuation metrics, including its Forward P/E ratio of 7.2. Its industry sports an average Forward P/E of 7.67, so one might conclude that Scorpio Tankers is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Scorpio Tankers Inc. (STNG) : Free Stock Analysis Report
