Scorpio Tankers (STNG) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Scorpio Tankers (STNG) closed at $51.01, marking a -0.64% move from the previous day. This change lagged the S&P 500's daily gain of 0.12%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 0.29%.
Heading into today, shares of the shipping company had gained 1.58% over the past month, outpacing the Transportation sector's loss of 5.6% and the S&P 500's gain of 0.09% in that time.
Wall Street will be looking for positivity from Scorpio Tankers as it approaches its next earnings report date. The company is expected to report EPS of $1.61, down 62.47% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $282.41 million, down 38.11% from the year-ago period.
STNG's full-year Zacks Consensus Estimates are calling for earnings of $9.19 per share and revenue of $1.3 billion. These results would represent year-over-year changes of -19.1% and -11.51%, respectively.
Investors should also note any recent changes to analyst estimates for Scorpio Tankers. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Scorpio Tankers is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Scorpio Tankers's current valuation metrics, including its Forward P/E ratio of 5.58. This valuation marks a discount compared to its industry's average Forward P/E of 6.9.
It is also worth noting that STNG currently has a PEG ratio of 0.17. 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 Transportation - Shipping was holding an average PEG ratio of 0.95 at yesterday's closing price.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 22% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Scorpio Tankers Inc. (STNG) : Free Stock Analysis Report
