Genco Shipping & Trading (GNK) outpaces stock market gains: what you need to know

genco Shipping & Trading (GNK) closed at $20.44 last trading session, marking a +0.54% move from the previous day. That move topped the S&P 500’s 0.22% daily gain. Meanwhile, the Dow Jones lost 0.13% and the tech-heavy Nasdaq gained 0.2%.

Going into today, shares of the dry bulk carrier had lost 8.42% in the past month, trailing the transportation sector’s 8.06% loss and the loss 8.32% of the S&P 500 during this period.

Wall Street will be looking for positivity from Genco Shipping & Trading as its next earnings report date nears. In this report, analysts expect Genco Shipping & Trading to post earnings of $1.15 per share. This would mark a year-over-year growth of 53.33%. Our most recent consensus estimate calls for quarterly revenue of $105.92 million, up 25.63% from the prior year period.

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 may also notice recent changes in analyst estimates for Genco Shipping & Trading. These recent revisions tend to reflect the evolving nature of short-term trading trends. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business prospects.

Research indicates that these revisions to estimates are directly correlated to near-term stock price dynamics. 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 track record of third-party audited success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past 30 days, our consensus EPS projection has risen 0.01%. Genco Shipping & Trading is currently a Zacks Rank #3 (Hold).

In terms of valuation, Genco Shipping & Trading is currently trading at a Forward P/E ratio of 4.3. Its industry sports an average Forward P/E of 3.56, so we can 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 30, 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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