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Genco Shipping & Trading (GNK) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Genco Shipping & Trading (GNK - Free Report) closed at $15.56, marking a -1.71% move from the previous day. This change lagged the S&P 500's daily gain of 1.89%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 0.73%.
Heading into today, shares of the transporter of drybulk cargo had lost 1.06% over the past month, outpacing the Transportation sector's loss of 5.63% and the S&P 500's loss of 7.36% in that time.
Genco Shipping & Trading will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.89, up 759.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $129.28 million, up 108.31% from the year-ago period.
Any recent changes to analyst estimates for Genco Shipping & Trading should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.54% lower. Genco Shipping & Trading currently has a Zacks Rank of #3 (Hold).
Investors should also note Genco Shipping & Trading's current valuation metrics, including its Forward P/E ratio of 4.02. Its industry sports an average Forward P/E of 3.95, so we one might conclude that Genco Shipping & Trading is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GNK in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Genco Shipping & Trading (GNK) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Genco Shipping & Trading (GNK - Free Report) closed at $15.56, marking a -1.71% move from the previous day. This change lagged the S&P 500's daily gain of 1.89%. Elsewhere, the Dow gained 1.17%, while the tech-heavy Nasdaq added 0.73%.
Heading into today, shares of the transporter of drybulk cargo had lost 1.06% over the past month, outpacing the Transportation sector's loss of 5.63% and the S&P 500's loss of 7.36% in that time.
Genco Shipping & Trading will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.89, up 759.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $129.28 million, up 108.31% from the year-ago period.
Any recent changes to analyst estimates for Genco Shipping & Trading should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.54% lower. Genco Shipping & Trading currently has a Zacks Rank of #3 (Hold).
Investors should also note Genco Shipping & Trading's current valuation metrics, including its Forward P/E ratio of 4.02. Its industry sports an average Forward P/E of 3.95, so we one might conclude that Genco Shipping & Trading is trading at a premium comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GNK in the coming trading sessions, be sure to utilize Zacks.com.