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 expected to be $199.9 million, down 48.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Scorpio Tankers, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on STNG going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Scorpio Tankers belongs to the Zacks Transportation - Shipping industry. Another stock from the same industry, Costamare (CMRE), closed the last trading session 1.9% lower at $8.78. Over the past month, CMRE has returned -13.6%.

For Costamare , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.48. This represents a change of -23.8% from what the company reported a year ago. Costamare currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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