Is Genco Shipping & Trading Limited (GNK) Outperforming Other Transportation Stocks This Year?

The Transportation group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Genco Shipping & Trading (GNK) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Transportation peers, we might be able to answer that question.

Genco Shipping & Trading is a member of our Transportation group, which includes 110 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Genco Shipping & Trading is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for GNK's full-year earnings has moved 17.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, GNK has gained about 36.4% so far this year. Meanwhile, the Transportation sector has returned an average of 15.7% on a year-to-date basis. This shows that Genco Shipping & Trading is outperforming its peers so far this year.

Another stock in the Transportation sector, Kirby (KEX), has outperformed the sector so far this year. The stock's year-to-date return is 20.7%.

The consensus estimate for Kirby's current year EPS has increased 5.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Genco Shipping & Trading belongs to the Transportation - Shipping industry, a group that includes 28 individual companies and currently sits at #31 in the Zacks Industry Rank. On average, this group has gained an average of 46.2% so far this year, meaning that GNK is slightly underperforming its industry in terms of year-to-date returns. Kirby is also part of the same industry.

Investors interested in the Transportation sector may want to keep a close eye on Genco Shipping & Trading and Kirby as they attempt to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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