Tuesday, Scorpio Tankers . Deutsche Financial institution raised its (NYSE: NYSE: ) worth goal to $89.00 from $87.00 whereas sustaining a purchase score on the inventory.
Scorpio Tankers reported second-quarter 2024 adjusted earnings per share (EPS) of $3.60, barely above Deutsche Financial institution’s forecast of $3.59 and the consensus estimate of $3.56 per share.
The corporate held its quarterly money dividend regular at $0.40 per share and repurchased roughly 1.4 million shares of widespread inventory in June and July. The typical buy worth of those shares was $78.16.
Along with these repurchases, Scorpio Tankers’ board of administrators has expanded its present securities repurchase program to $400 million, indicating that additional share repurchases are anticipated within the close to future, notably if the inventory continues to commerce under the corporate’s estimated Web asset worth per share.
The choice to boost the value goal stems from latest share buyback exercise. Deutsche Financial institution stays constructive on the corporate’s prospects, citing Scorpio Tankers’ efforts to decrease its money breakeven ratio. The corporate additionally expressed confidence within the firm’s continued inventory buybacks and anticipated product tanker freight charges to stay robust in 2025.
Funding Skilled Insights
Scorpio Tankers Inc. (NYSE: STNG) Reveals Sturdy Monetary Outcomes, and It is Price Watching P/E ratio -0.25, displaying progress potential relative to its earnings. firm’s Gross revenue margin It reached a powerful 75.7%, reflecting environment friendly operations and robust price management. Moreover, Scorpio Tanker’s worth/e-book A ratio of 1.44 suggests the inventory is probably going pretty valued relative to its internet price.
InvestingPro Suggestions additional enriches the corporate’s profile and highlights administration’s Actively purchase again shares, which is in line with Deutsche Financial institution’s not too long ago famous share buyback exercise. As well as, the corporate additionally has Maintained dividend cost for 12 consecutive years, reinforcing its dedication to returning worth to shareholders. These components, together with the corporate’s capability to keep up profitability and analysts’ forecasts for continued earnings this 12 months, assist the constructive sentiment mirrored in Deutsche Financial institution’s worth goal enhance.
For a extra detailed evaluation and different InvestingPro ideas (there are presently 9 ideas listed for Scorpio Tankers), go to InvestingPro. To entry these insights, use the coupon code PRONEWS24 Get pleasure from as much as 10% low cost on annual Professional and Professional+ annual or two-year subscriptions.
This text was generated with the assist of synthetic intelligence and reviewed by an editor. For extra info, please see our phrases and situations.
