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Genco Shipping & Trading (GNK) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Genco Shipping & Trading (GNK - Free Report) closed at $20.99, marking a -1.73% move from the previous day. This change lagged the S&P 500's 1.3% loss on the day. At the same time, the Dow lost 0.69%, and the tech-heavy Nasdaq lost 0.41%.
Heading into today, shares of the transporter of drybulk cargo had gained 17.75% over the past month, outpacing the Transportation sector's loss of 3.44% and the S&P 500's loss of 5.33% in that time.
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 $0.98 per share, which would represent year-over-year growth of 1533.33%. Meanwhile, our latest consensus estimate is calling for revenue of $95.81 million, up 82.42% from the prior-year quarter.
GNK's full-year Zacks Consensus Estimates are calling for earnings of $4.22 per share and revenue of $386.97 million. These results would represent year-over-year changes of -0.47% and -3.49%, respectively.
Any recent changes to analyst estimates for Genco Shipping & Trading should also be noted by investors. Recent revisions tend to reflect the latest 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 9.19% higher. Genco Shipping & Trading currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 5.06. For comparison, its industry has an average Forward P/E of 4.3, which means Genco Shipping & Trading is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
To follow GNK in the coming trading sessions, be sure to utilize Zacks.com.
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Genco Shipping & Trading (GNK) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Genco Shipping & Trading (GNK - Free Report) closed at $20.99, marking a -1.73% move from the previous day. This change lagged the S&P 500's 1.3% loss on the day. At the same time, the Dow lost 0.69%, and the tech-heavy Nasdaq lost 0.41%.
Heading into today, shares of the transporter of drybulk cargo had gained 17.75% over the past month, outpacing the Transportation sector's loss of 3.44% and the S&P 500's loss of 5.33% in that time.
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 $0.98 per share, which would represent year-over-year growth of 1533.33%. Meanwhile, our latest consensus estimate is calling for revenue of $95.81 million, up 82.42% from the prior-year quarter.
GNK's full-year Zacks Consensus Estimates are calling for earnings of $4.22 per share and revenue of $386.97 million. These results would represent year-over-year changes of -0.47% and -3.49%, respectively.
Any recent changes to analyst estimates for Genco Shipping & Trading should also be noted by investors. Recent revisions tend to reflect the latest 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 9.19% higher. Genco Shipping & Trading currently has a Zacks Rank of #2 (Buy).
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 5.06. For comparison, its industry has an average Forward P/E of 4.3, which means Genco Shipping & Trading is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% 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.
To follow GNK in the coming trading sessions, be sure to utilize Zacks.com.