Genco Shipping & Trading (GNK) Stock Moves -0.22%: What You Should Know
Genco Shipping & Trading (GNK) closed at $13.40 in the latest trading session, marking a -0.22% move from the prior day. This change was narrower than the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the transporter of drybulk cargo had gained 7.18% over the past month. This has outpaced the Transportation sector's gain of 3.98% and the S&P 500's gain of 4.98% 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 November 9, 2022. The company is expected to report EPS of $0.88, down 38.89% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $91.19 million, down 22.37% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.13 per share and revenue of $386.86 million, which would represent changes of -2.59% and -3.51%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Genco Shipping & Trading. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.46% lower. Genco Shipping & Trading is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Genco Shipping & Trading is holding a Forward P/E ratio of 3.25. Its industry sports an average Forward P/E of 3.32, so we one might conclude that Genco Shipping & Trading is trading at a discount comparatively.
The Transportation - Shipping industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 60, which puts it in the top 24% 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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