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Scorpio Tankers (STNG) Stock Sinks As Market Gains: Here's Why
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Scorpio Tankers (STNG - Free Report) ended the recent trading session at $71.77, demonstrating a -0.42% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.11%. Elsewhere, the Dow saw an upswing of 0.8%, while the tech-heavy Nasdaq appreciated by 1.24%.
Shares of the shipping company witnessed a gain of 4.07% over the previous month, beating the performance of the Transportation sector with its gain of 0.33% and the S&P 500's gain of 0.48%.
Market participants will be closely following the financial results of Scorpio Tankers in its upcoming release. In that report, analysts expect Scorpio Tankers to post earnings of $3.80 per share. This would mark year-over-year growth of 14.8%. Meanwhile, our latest consensus estimate is calling for revenue of $382.5 million, up 1.42% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.30 per share and a revenue of $1.36 billion, representing changes of +17.59% and +2.13%, respectively, from the prior year.
Any recent changes to analyst estimates for Scorpio Tankers should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.39% downward. Currently, Scorpio Tankers is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Scorpio Tankers is currently being traded at a Forward P/E ratio of 5.86. This represents a discount compared to its industry's average Forward P/E of 8.11.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 (STNG) Stock Sinks As Market Gains: Here's Why
Scorpio Tankers (STNG - Free Report) ended the recent trading session at $71.77, demonstrating a -0.42% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.11%. Elsewhere, the Dow saw an upswing of 0.8%, while the tech-heavy Nasdaq appreciated by 1.24%.
Shares of the shipping company witnessed a gain of 4.07% over the previous month, beating the performance of the Transportation sector with its gain of 0.33% and the S&P 500's gain of 0.48%.
Market participants will be closely following the financial results of Scorpio Tankers in its upcoming release. In that report, analysts expect Scorpio Tankers to post earnings of $3.80 per share. This would mark year-over-year growth of 14.8%. Meanwhile, our latest consensus estimate is calling for revenue of $382.5 million, up 1.42% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $12.30 per share and a revenue of $1.36 billion, representing changes of +17.59% and +2.13%, respectively, from the prior year.
Any recent changes to analyst estimates for Scorpio Tankers should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.39% downward. Currently, Scorpio Tankers is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Scorpio Tankers is currently being traded at a Forward P/E ratio of 5.86. This represents a discount compared to its industry's average Forward P/E of 8.11.
The Transportation - Shipping industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.