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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 $21.33, moving -0.56% from the previous trading session. This move lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 0.91%.
Coming into today, shares of the transporter of drybulk cargo had gained 14.28% in the past month. In that same time, the Transportation sector gained 2.88%, while the S&P 500 gained 2.65%.
Wall Street will be looking for positivity from Genco Shipping & Trading as it approaches its next earnings report date. In that report, analysts expect Genco Shipping & Trading to post earnings of $0.98 per share. This would mark year-over-year growth of 1533.33%. Our most recent consensus estimate is calling for quarterly revenue of $95.81 million, up 82.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.22 per share and revenue of $386.97 million, which would represent changes of -0.47% and -3.49%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Genco Shipping & Trading. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 9.19% higher. Genco Shipping & Trading currently has 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 5.08 right now. For comparison, its industry has an average Forward P/E of 4.17, which means Genco Shipping & Trading is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% 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 $21.33, moving -0.56% from the previous trading session. This move lagged the S&P 500's daily gain of 1.13%. Meanwhile, the Dow gained 0.74%, and the Nasdaq, a tech-heavy index, added 0.91%.
Coming into today, shares of the transporter of drybulk cargo had gained 14.28% in the past month. In that same time, the Transportation sector gained 2.88%, while the S&P 500 gained 2.65%.
Wall Street will be looking for positivity from Genco Shipping & Trading as it approaches its next earnings report date. In that report, analysts expect Genco Shipping & Trading to post earnings of $0.98 per share. This would mark year-over-year growth of 1533.33%. Our most recent consensus estimate is calling for quarterly revenue of $95.81 million, up 82.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.22 per share and revenue of $386.97 million, which would represent changes of -0.47% and -3.49%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Genco Shipping & Trading. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 9.19% higher. Genco Shipping & Trading currently has 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 5.08 right now. For comparison, its industry has an average Forward P/E of 4.17, which means Genco Shipping & Trading is trading at a premium to the group.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% 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.