Scorpio Tankers (STNG) Stock Falls Amid Market Uptick: What Investors Need to Know
Scorpio Tankers (STNG) closed the most recent trading day at $56.15, moving -0.25% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.65%. On the other hand, the Dow registered a gain of 0.38%, and the technology-centric Nasdaq increased by 0.48%.
The the stock of shipping company has risen by 9.45% in the past month, leading the Transportation sector's loss of 6.86% and the S&P 500's loss of 2.79%.
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 is forecasted to report an EPS of $1.66, showcasing a 61.31% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $284.1 million, indicating a 37.74% decline compared to the corresponding quarter of the prior year.
STNG's full-year Zacks Consensus Estimates are calling for earnings of $9.30 per share and revenue of $1.31 billion. These results would represent year-over-year changes of -18.13% and -11.06%, respectively.
Investors might also notice recent changes to analyst estimates for Scorpio Tankers. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 0.76% rise in the Zacks Consensus EPS estimate. As of now, Scorpio Tankers holds a Zacks Rank of #3 (Hold).
In terms of valuation, Scorpio Tankers is presently being traded at a Forward P/E ratio of 6.05. This denotes a discount relative to the industry's average Forward P/E of 7.39.
It is also worth noting that STNG currently has a PEG ratio of 0.18. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Transportation - Shipping industry had an average PEG ratio of 1.13.
The Transportation - Shipping industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Scorpio Tankers Inc. (STNG) : Free Stock Analysis Report
