Scorpio Tankers (STNG) Suffers a Larger Drop Than the General Market: Key Insights
Scorpio Tankers (STNG) closed the latest trading day at $66.43, indicating a -0.6% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.32% for the day. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.2%.
Shares of the shipping company have appreciated by 3.34% over the course of the past month, outperforming the Transportation sector's gain of 1.46% and lagging the S&P 500's gain of 4.59%.
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 February 14, 2024. The company is predicted to post an EPS of $2.68, indicating a 36.79% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $329.7 million, down 28.37% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Scorpio Tankers. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 9.01% higher. 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 6.18. This valuation marks a discount compared to its industry's average Forward P/E of 7.3.
The Transportation - Shipping industry is part of the Transportation sector. With its current Zacks Industry Rank of 82, this industry ranks in the top 33% of all industries, numbering over 250.
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.
To follow STNG in the coming trading sessions, be sure to utilize Zacks.com.
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Scorpio Tankers Inc. (STNG) : Free Stock Analysis Report
