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Genco Shipping & Trading (GNK) Dips More Than Broader Markets: What You Should Know
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Genco Shipping & Trading (GNK - Free Report) closed at $16.63 in the latest trading session, marking a -1.66% move from the prior day. This change lagged the S&P 500's daily loss of 1.15%. At the same time, the Dow lost 0.52%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the transporter of drybulk cargo had lost 24.27% over the past month, lagging the Transportation sector's loss of 5.79% and the S&P 500's loss of 5.08% 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 $1.08 per share. This would mark year-over-year growth of 44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $102.83 million, up 21.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.62 per share and revenue of $429.29 million, which would represent changes of +8.96% and +7.07%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Genco Shipping & Trading. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.34% lower within the past month. Genco Shipping & Trading is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 3.66. This valuation marks a premium compared to its industry's average Forward P/E of 2.97.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Genco Shipping & Trading (GNK) Dips More Than Broader Markets: What You Should Know
Genco Shipping & Trading (GNK - Free Report) closed at $16.63 in the latest trading session, marking a -1.66% move from the prior day. This change lagged the S&P 500's daily loss of 1.15%. At the same time, the Dow lost 0.52%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the transporter of drybulk cargo had lost 24.27% over the past month, lagging the Transportation sector's loss of 5.79% and the S&P 500's loss of 5.08% 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 $1.08 per share. This would mark year-over-year growth of 44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $102.83 million, up 21.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.62 per share and revenue of $429.29 million, which would represent changes of +8.96% and +7.07%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Genco Shipping & Trading. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.34% lower within the past month. Genco Shipping & Trading is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 3.66. This valuation marks a premium compared to its industry's average Forward P/E of 2.97.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.