genco Shipping & Trading (GNK) closed at $22.33 last trading session, marking a -1.19% move from the previous day. This change was narrower than the S&P 500’s 2.91% loss on the day. Elsewhere, the Dow Jones lost 2.73%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today’s trading, shares of the dry bulk carrier had gained 5.66% in the past month. That outpaced the transportation sector’s 0.94% loss and the S&P 500’s 0.84% gain during that time.
Investors are hoping for Genco Shipping & Trading’s strength ahead of its next earnings release. The company is expected to post EPS of $1.15, up 53.33% from the prior year quarter. Meanwhile, our latest consensus estimate calls for revenue of $105.92 million, up 25.63% from the prior year quarter.
Looking to the full year, our Zacks consensus estimates suggest analysts are expecting earnings of $4.73 per share and revenue of $437.16 million. These totals would mark changes of +11.56% and +9.03%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Genco Shipping & Trading. Recent revisions tend to reflect the latest short-term trading trends. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated to short-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable, externally audited track record of success, with No. 1 stocks delivering an average annual return of +25% since 1988. Zacks Consensus’ EPS estimate has remained flat over the past month. Genco Shipping & Trading currently holds a Zacks rank of #3 (Hold).
Digging into the valuation, Genco Shipping & Trading currently has a Forward P/E ratio of 4.78. Its industry sports an average Forward P/E of 4, so we could conclude that Genco Shipping & Trading is trading at a premium comparatively.
The Transport – Shipping industry is part of the Transport sector. This industry currently has a Zacks Industry Ranking of 28, which places it in the top 12% of over 250 industries.
The Zacks Industry Ranking assesses the strength of our industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
To follow GNK in upcoming trading sessions, be sure to use Zacks.com.
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