Genco Shipping & Trading (GNK) shares move -0.23%: what you need to know
Genco Shipping & Trading (GNK) closed the last trading day at $22.15, moving -0.23% from the previous trading session. That change was narrower than the S&P 500’s 1.26% daily loss. At the same time, the Dow Jones lost 0.8% and the tech-heavy Nasdaq lost 0.44%.
As of today, shares of the dry bulk carrier have gained 6.99% over the past month. Over the same period, the transportation sector lost 0.51%, while the S&P 500 gained 6.07%.
Investors are hoping for Genco Shipping & Trading’s strength ahead of its next earnings release. The company is expected to post EPS of $0.98, up 1533.33% from the prior year quarter. Our most recent consensus estimate calls for quarterly revenue of $95.81 million, up 82.42% from the prior year period.
For the full year, our Zacks consensus estimates call for earnings of $4.22 per share and revenue of $386.97 million, which would represent swings of -0.47% and -3, 49%, respectively, compared to the previous year.
It is also important to note recent changes to analyst estimates for Genco Shipping & Trading. These revisions generally reflect the latest short-term trading trends, which may change frequently. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business prospects.
Our research shows that these estimate changes are directly correlated to short-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of outperformance verified by external audits, with #1 stocks generating an average annual return of +25% since 1988 The Zacks Consensus EPS estimate has remained flat over the past month. Genco Shipping & Trading is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Genco Shipping & Trading currently has a Forward P/E ratio of 5.26. Its industry sports an average Forward P/E of 4.25, so we could conclude that Genco Shipping & Trading is trading at a premium comparatively.
The Transport – Shipping industry is part of the Transport sector. This group has a Zacks industry ranking of 78, which places it in the top 31% of over 250 industries.
The Zacks Industry Ranking assesses the strength of our industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Be sure to track all of these stock movement metrics, and more, at Zacks.com.
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