Scorpio Tankers Inc. (STNG) shares surged 9.2% to close at $45.55 in the latest trading session, driven by a significant increase in trading volume. This rise comes after the stock had gained 1.2% over the past month and 11% overall in the last four weeks, attributed to heightened demand for petroleum tankers amid a pause in production from major Middle Eastern exporters.
The company is expected to report quarterly earnings of $1.01 per share, reflecting a year-over-year decline of 71.9%, with anticipated revenues at $215.14 million, down 42.4% from the previous year. Additionally, the consensus EPS estimate has been revised 38.5% lower over the last month, indicating potential challenges ahead, despite the stock’s current Zacks Rank of #1 (Strong Buy).
In related news, Okeanis Eco Tankers Corp. (ECO) recorded a 2% increase to close at $23.45, with a monthly return of 4.3%. The consensus EPS estimate for ECO remains unchanged at $0.33 but indicates a decline of 73.2% compared to the previous year, with a Zacks Rank of #4 (Sell).
