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Genco Shipping & Trading (GNK) Outpaces Stock Market Gains: What You Should Know
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Genco Shipping & Trading (GNK - Free Report) closed at $20.44 in the latest trading session, marking a +0.54% move from the prior day. This move outpaced the S&P 500's daily gain of 0.22%. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the transporter of drybulk cargo had lost 8.42% over the past month, lagging the Transportation sector's loss of 8.06% and the S&P 500's loss of 8.32% in that time.
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 $1.15 per share. This would mark year-over-year growth of 53.33%. Our most recent consensus estimate is calling for quarterly revenue of $105.92 million, up 25.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.73 per share and revenue of $437.16 million. These totals would mark changes of +11.56% and +9.03%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Genco Shipping & Trading. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.01% higher. Genco Shipping & Trading is currently a Zacks Rank #3 (Hold).
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 4.3. Its industry sports an average Forward P/E of 3.56, 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 industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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) Outpaces Stock Market Gains: What You Should Know
Genco Shipping & Trading (GNK - Free Report) closed at $20.44 in the latest trading session, marking a +0.54% move from the prior day. This move outpaced the S&P 500's daily gain of 0.22%. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the transporter of drybulk cargo had lost 8.42% over the past month, lagging the Transportation sector's loss of 8.06% and the S&P 500's loss of 8.32% in that time.
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 $1.15 per share. This would mark year-over-year growth of 53.33%. Our most recent consensus estimate is calling for quarterly revenue of $105.92 million, up 25.63% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.73 per share and revenue of $437.16 million. These totals would mark changes of +11.56% and +9.03%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Genco Shipping & Trading. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.01% higher. Genco Shipping & Trading is currently a Zacks Rank #3 (Hold).
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 4.3. Its industry sports an average Forward P/E of 3.56, 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 industry currently has a Zacks Industry Rank of 30, which puts it in the top 12% 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.