This story originally appeared on Zacks
In the latest trading session, Grindrod Shipping Holdings Ltd. (GRIN) closed at $17.44, marking a -1.58% move from the previous day. This change was narrower than the S&P 500’s 1.94% loss on the day. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.
Coming into today, shares of the company had gained 24.53% in the past month. In that same time, the Transportation sector gained 5.57%, while the S&P 500 gained 5.72%.
Grindrod Shipping Holdings Ltd. will be looking to display strength as it nears its next earnings release.
It is also important to note the recent changes to analyst estimates for Grindrod Shipping Holdings Ltd.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.75% higher. Grindrod Shipping Holdings Ltd. currently has a Zacks Rank of #4 (Sell).
Investors should also note Grindrod Shipping Holdings Ltd.’s current valuation metrics, including its Forward P/E ratio of 3.38. This represents a discount compared to its industry’s average Forward P/E of 3.84.
The Transportation – Shipping industry is part of the Transportation sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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