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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 $13.25 in the latest trading session, marking a -2% move from the prior day. This move lagged the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Prior to today's trading, shares of the transporter of drybulk cargo had lost 12.49% over the past month. This has lagged the Transportation sector's loss of 12.44% and the S&P 500's loss of 10.24% in that time.
Genco Shipping & Trading will be looking to display strength as it nears its next earnings release. On that day, Genco Shipping & Trading is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 29.86%. Meanwhile, our latest consensus estimate is calling for revenue of $92.27 million, down 21.45% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.50 per share and revenue of $400.95 million. These totals would mark changes of +6.13% and 0%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Genco Shipping & Trading. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Genco Shipping & Trading currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 3. This valuation marks a discount compared to its industry's average Forward P/E of 3.36.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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
Genco Shipping & Trading (GNK - Free Report) closed at $13.25 in the latest trading session, marking a -2% move from the prior day. This move lagged the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Prior to today's trading, shares of the transporter of drybulk cargo had lost 12.49% over the past month. This has lagged the Transportation sector's loss of 12.44% and the S&P 500's loss of 10.24% in that time.
Genco Shipping & Trading will be looking to display strength as it nears its next earnings release. On that day, Genco Shipping & Trading is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 29.86%. Meanwhile, our latest consensus estimate is calling for revenue of $92.27 million, down 21.45% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.50 per share and revenue of $400.95 million. These totals would mark changes of +6.13% and 0%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Genco Shipping & Trading. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Genco Shipping & Trading currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 3. This valuation marks a discount compared to its industry's average Forward P/E of 3.36.
The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.