Genco Shipping & Trading (GNK) Stock Moves 0.59%: What You Should Know
In the latest trading session, Genco Shipping & Trading (GNK) closed at $18.81, marking a +0.59% move from the previous day. The stock traded in line with S&P 500. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.07%.
Heading into today, shares of the transporter of drybulk cargo had lost 8.6% over the past month, lagging the Transportation sector's gain of 5.55% and the S&P 500's gain of 7.25% 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 August 3, 2022. In that report, analysts expect Genco Shipping & Trading to post earnings of $1.08 per share. This would mark year-over-year growth of 44%. Meanwhile, our latest consensus estimate is calling for revenue of $102.83 million, up 21.97% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.62 per share and revenue of $429.29 million. These totals would mark changes of +8.96% and +7.07%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Genco Shipping & Trading. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. The Zacks Consensus EPS estimate has moved 4.42% lower within the past month. Genco Shipping & Trading is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Genco Shipping & Trading is holding a Forward P/E ratio of 4.05. Its industry sports an average Forward P/E of 3.17, 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 industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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