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Genco Shipping & Trading (GNK) Dips More Than Broader Markets: What You Should Know

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Genco Shipping & Trading (GNK - Free Report) closed at $15.79 in the latest trading session, marking a -1.25% move from the prior day. This change lagged the S&P 500's 0.14% loss on the day. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.02%.

Coming into today, shares of the transporter of drybulk cargo had gained 2.96% in the past month. In that same time, the Transportation sector gained 1.8%, while the S&P 500 lost 0.13%.

Genco Shipping & Trading will be looking to display strength as it nears its next earnings release. In that report, analysts expect Genco Shipping & Trading to post earnings of $1.92 per share. This would mark year-over-year growth of 772.73%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $129.28 million, up 108.31% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Genco Shipping & Trading. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.12% higher. Genco Shipping & Trading is currently a Zacks Rank #2 (Buy).

In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 3.96. This represents a no noticeable deviation compared to its industry's average Forward P/E of 3.96.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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