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Genco Shipping & Trading (GNK) Stock Sinks As Market Gains: What You Should Know

·3 min read

Genco Shipping & Trading (GNK) closed the most recent trading day at $13.12, moving -1.2% from the previous trading session. This move lagged the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.2%.

Heading into today, shares of the transporter of drybulk cargo had lost 14.82% over the past month, lagging the Transportation sector's loss of 12.78% and the S&P 500's loss of 9.94% in that time.

Wall Street will be looking for positivity from Genco Shipping & Trading as it approaches its next earnings report date. The company is expected to report EPS of $1.01, down 29.86% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $92.27 million, down 21.45% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.50 per share and revenue of $400.95 million, which would represent changes of +6.13% and 0%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Genco Shipping & Trading is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Genco Shipping & Trading's current valuation metrics, including its Forward P/E ratio of 2.95. This represents a discount compared to its industry's average Forward P/E of 3.34.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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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