Grindrod Shipping Holdings Ltd. (GRIN) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Grindrod Shipping Holdings Ltd. (GRIN) closed at $17.64, marking a +1.09% move from the previous day. This change outpaced the S&P 500's 0.59% gain on the day. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq lost 0.02%.
Prior to today's trading, shares of the company had lost 10.14% over the past month. This has lagged the Transportation sector's gain of 5.55% and the S&P 500's gain of 7.25% in that time.
Wall Street will be looking for positivity from Grindrod Shipping Holdings Ltd. as it approaches its next earnings report date. On that day, Grindrod Shipping Holdings Ltd. is projected to report earnings of $1.43 per share, which would represent year-over-year growth of 41.58%. Our most recent consensus estimate is calling for quarterly revenue of $96.08 million, down 39.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.98 per share and revenue of $391.76 million. These totals would mark changes of -1.97% and -18.59%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Grindrod Shipping Holdings Ltd.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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Grindrod Shipping Holdings Ltd. is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Grindrod Shipping Holdings Ltd.'s current valuation metrics, including its Forward P/E ratio of 2.92. For comparison, its industry has an average Forward P/E of 3.17, which means Grindrod Shipping Holdings Ltd. is trading at a discount to the group.
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.
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