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Genco Shipping & Trading (GNK) Flat As Market Sinks: What You Should Know
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Genco Shipping & Trading (GNK - Free Report) closed the most recent trading day at $13.91, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.8%. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the transporter of drybulk cargo had gained 2.43% over the past month, outpacing the Transportation sector's loss of 9.12% and the S&P 500's loss of 4.08% 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 $0.93 per share, which would represent a year-over-year decline of 35.42%. Our most recent consensus estimate is calling for quarterly revenue of $92.37 million, down 21.36% from the year-ago period.
GNK's full-year Zacks Consensus Estimates are calling for earnings of $4.35 per share and revenue of $397.02 million. These results would represent year-over-year changes of +2.59% and -0.98%, respectively.
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.
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. Within the past 30 days, our consensus EPS projection has moved 3.38% lower. Genco Shipping & Trading is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Genco Shipping & Trading's current valuation metrics, including its Forward P/E ratio of 3.2. Its industry sports an average Forward P/E of 3.14, 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 group has a Zacks Industry Rank of 81, 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Genco Shipping & Trading (GNK) Flat As Market Sinks: What You Should Know
Genco Shipping & Trading (GNK - Free Report) closed the most recent trading day at $13.91, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.8%. Meanwhile, the Dow lost 2.11%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Heading into today, shares of the transporter of drybulk cargo had gained 2.43% over the past month, outpacing the Transportation sector's loss of 9.12% and the S&P 500's loss of 4.08% 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 $0.93 per share, which would represent a year-over-year decline of 35.42%. Our most recent consensus estimate is calling for quarterly revenue of $92.37 million, down 21.36% from the year-ago period.
GNK's full-year Zacks Consensus Estimates are calling for earnings of $4.35 per share and revenue of $397.02 million. These results would represent year-over-year changes of +2.59% and -0.98%, respectively.
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.
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. Within the past 30 days, our consensus EPS projection has moved 3.38% lower. Genco Shipping & Trading is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Genco Shipping & Trading's current valuation metrics, including its Forward P/E ratio of 3.2. Its industry sports an average Forward P/E of 3.14, 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 group has a Zacks Industry Rank of 81, 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.
You can find more information on all of these metrics, and much more, on Zacks.com.