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Genco Shipping & Trading (GNK) Stock Sinks As Market Gains: What You Should Know
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Genco Shipping & Trading (GNK - Free Report) closed the most recent trading day at $14.32, moving -0.07% from the previous trading session. This change lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 0.16%.
Coming into today, shares of the transporter of drybulk cargo had lost 6.16% in the past month. In that same time, the Transportation sector lost 1.87%, while the S&P 500 lost 5.39%.
Investors will be hoping for strength from Genco Shipping & Trading as it approaches its next earnings release. On that day, Genco Shipping & Trading is projected to report earnings of $1.92 per share, which would represent 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. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Genco Shipping & Trading is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Genco Shipping & Trading has a Forward P/E ratio of 3.55 right now. This represents a premium compared to its industry's average Forward P/E of 3.45.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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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Genco Shipping & Trading (GNK) Stock Sinks As Market Gains: What You Should Know
Genco Shipping & Trading (GNK - Free Report) closed the most recent trading day at $14.32, moving -0.07% from the previous trading session. This change lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.29%, while the tech-heavy Nasdaq added 0.16%.
Coming into today, shares of the transporter of drybulk cargo had lost 6.16% in the past month. In that same time, the Transportation sector lost 1.87%, while the S&P 500 lost 5.39%.
Investors will be hoping for strength from Genco Shipping & Trading as it approaches its next earnings release. On that day, Genco Shipping & Trading is projected to report earnings of $1.92 per share, which would represent 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. Recent revisions tend to reflect the latest 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Genco Shipping & Trading is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Genco Shipping & Trading has a Forward P/E ratio of 3.55 right now. This represents a premium compared to its industry's average Forward P/E of 3.45.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.