Genco Shipping & Trading (GNK) Dips More Than Broader Markets: What You Should Know
Genco Shipping & Trading (GNK) closed the most recent trading day at $17.75, moving -0.78% from the previous trading session. This change lagged the S&P 500's 0.38% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the transporter of drybulk cargo had gained 8.75% in the past month. In that same time, the Transportation sector lost 3.16%, while the S&P 500 lost 6.25%.
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. On that day, Genco Shipping & Trading is projected to report earnings of $1.89 per share, which would represent 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.
Any recent changes to analyst estimates for Genco Shipping & Trading should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.33% lower. Genco Shipping & Trading is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 4.63. This represents a premium compared to its industry's average Forward P/E of 4.28.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 29% 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.
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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