Is This an Indication of Further Gains?
Scorpio Tankers (STNG) shares soared 11% in the last trading session to close at $35.36. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 19.7% loss over the past four weeks.
Despite tariff-related woes, STNG is being well-served by the strong fundamentals of the product tanker market. Efforts to expand its fleet also bode well for STNG. STNG’s strong earnings history (it has outpaced the Zacks Consensus Estimate for earnings in each of the past four quarters) is also commendable.
This shipping company is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of -77.3%. Revenues are…
