Genco Shipping & Trading (GNK) closed at $18.77 in the latest trading session, marking a -1.68% move from the prior day. This move lagged the S&P 500's daily loss of 0.72%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.67%.
Prior to today's trading, shares of the transporter of drybulk cargo had gained 24.45% over the past month. This has outpaced the Transportation sector's loss of 1.56% and the S&P 500's loss of 5.92% in that time.
Investors will be hoping for strength from Genco Shipping & Trading as it approaches its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Genco Shipping & Trading to post earnings of $1.89 per share. This would mark year-over-year growth of 759.09%. Our most recent consensus estimate is calling for quarterly revenue of $129.28 million, up 108.31% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Genco Shipping & Trading. Recent revisions tend to reflect the latest 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.33% lower. Genco Shipping & Trading currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Genco Shipping & Trading currently has a Forward P/E ratio of 4.94. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 4.94.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 139, which puts it in the bottom 46% 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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