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Genco Shipping & Trading (GNK) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3-min read

Genco Shipping & Trading (GNK) closed at $13.89 in the latest trading session, marking a +0.29% move from the prior day. This change lagged the S&P 500's 1.19% gain on the day. Elsewhere, the Dow gained 1.34%, while the tech-heavy Nasdaq lost 0.18%.

Prior to today's trading, shares of the transporter of drybulk cargo had gained 9.83% over the past month. This has outpaced the Transportation sector's loss of 3.33% and the S&P 500's loss of 0.84% in that time.

Genco Shipping & Trading will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.88, down 38.89% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $91.06 million, down 22.47% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.14 per share and revenue of $387.56 million, which would represent changes of -2.36% and -3.34%, respectively, from the prior year.

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Investors should also note any 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.

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.

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 7.94% lower. Genco Shipping & Trading currently has a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, Genco Shipping & Trading is holding a Forward P/E ratio of 3.34. Its industry sports an average Forward P/E of 3.23, so we one might conclude that Genco Shipping & Trading is trading at a premium comparatively.

The Transportation - Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Genco Shipping & Trading Limited (GNK) : Free Stock Analysis Report
 
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Zacks Investment Research