Genco Shipping & Trading (GNK - Free Report) closed the most recent trading day at $23.60, moving -1.75% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.77%. At the same time, the Dow lost 2.82%, and the tech-heavy Nasdaq lost 0.83%.
Prior to today's trading, shares of the transporter of drybulk cargo had gained 3.62% over the past month. This has outpaced the Transportation sector's loss of 5.83% and the S&P 500's loss of 1.35% in that time.
Wall Street will be looking for positivity from Genco Shipping & Trading as it approaches its next earnings report date. This is expected to be May 4, 2022. In that report, analysts expect Genco Shipping & Trading to post earnings of $0.97 per share. This would mark year-over-year growth of 1516.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $95.11 million, up 81.1% from the year-ago period.
GNK's full-year Zacks Consensus Estimates are calling for earnings of $4.22 per share and revenue of $387.31 million. These results would represent year-over-year changes of -0.47% and -3.4%, respectively.
It is also important to note the recent changes to analyst estimates for Genco Shipping & Trading. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Genco Shipping & Trading is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Genco Shipping & Trading currently has a Forward P/E ratio of 5.69. This valuation marks a premium compared to its industry's average Forward P/E of 4.16.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
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Genco Shipping & Trading (GNK - Free Report) closed the most recent trading day at $23.60, moving -1.75% from the previous trading session. This move was narrower than the S&P 500's daily loss of 2.77%. At the same time, the Dow lost 2.82%, and the tech-heavy Nasdaq lost 0.83%.
Prior to today's trading, shares of the transporter of drybulk cargo had gained 3.62% over the past month. This has outpaced the Transportation sector's loss of 5.83% and the S&P 500's loss of 1.35% in that time.
Wall Street will be looking for positivity from Genco Shipping & Trading as it approaches its next earnings report date. This is expected to be May 4, 2022. In that report, analysts expect Genco Shipping & Trading to post earnings of $0.97 per share. This would mark year-over-year growth of 1516.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $95.11 million, up 81.1% from the year-ago period.
GNK's full-year Zacks Consensus Estimates are calling for earnings of $4.22 per share and revenue of $387.31 million. These results would represent year-over-year changes of -0.47% and -3.4%, respectively.
It is also important to note the recent changes to analyst estimates for Genco Shipping & Trading. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Genco Shipping & Trading is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Genco Shipping & Trading currently has a Forward P/E ratio of 5.69. This valuation marks a premium compared to its industry's average Forward P/E of 4.16.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
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