Genco Shipping & Trading (GNK) Dips More Than Broader Markets: What You Should Know

This story originally appeared on Zacks

Genco Shipping & Trading (GNK) closed at $15.79 in the last trading session, posting a -1.25% move from the previous day. This change delayed the S&P 500’s loss of 0.14% today. Elsewhere, the Dow Jones lost 0.45%, while the big tech Nasdaq lost 0.02%.

– Zacks

As of today, the dry goods carrier’s shares are up 2.96% in the last month. Meanwhile, the transportation sector gained 1.8%, while the S&P 500 lost 0.13%.

Genco Shipping & Trading will be looking to show strength as it nears its next earnings release. In this report, analysts expect Genco Shipping & Trading to report earnings of $1.92 per share. This represents an annual growth of 772.73%. Meanwhile, the Zacks Consensus Revenue Report expects net sales of $129.28 million, up 108.31% over the same period last year.

It is also important to note recent changes in analyst estimates for Genco Shipping & Trading. These reviews help show the ever-changing nature of near-term business trends. As such, positive rating reviews reflect the analyst’s optimism about the company’s business and profitability.

Our research shows that these discretionary changes are directly correlated with near-term stock prices. To take advantage of this, we have developed Zacks Rank, a proprietary model that takes these discretionary changes into account and provides an actionable ranking system.

The Zacks Rank system ranges from #1 (strong buy) to #5 (strong sell). The company has a proven track record of success, subject to external scrutiny, with the No. 1 stock generating an average annual return of over 25% since 1988. In the past 30 days, our aligned EPS forecast is up 0.12%. Genco Shipping & Trading is currently ranked #2 by Zacks (Buy).

In terms of valuation, Genco Shipping & Trading is currently trading at a forward P/E rate of 3.96. This does not represent any significant deviation compared to the industry’s forward P/E average of 3.96.

Transportation – The shipping industry is part of the transportation sector. This group has a Zacks Industry 100 rating, placing it in the top 40% of all 250+ industries.

Zacks Industry Ranking measures the strength of our industry groups by measuring the average Zacks rating of the individual stocks within the groups. Our research shows that industries ranked 50% outperform the bottom half by a factor of 2 to 1.

You can find more information about all of these metrics and more at Zacks.com.

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

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