Genco Shipping & Trading Ltd. (GNK) Upgraded at Zacks Investment Research
Genco Shipping & Trading Ltd. (NYSE:GNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $6.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.94% from the company’s current price.
According to Zacks, “Genco Shipping & Trading Ltd. is a ship owning company. It transport iron ore, coal, grain, steel products and other drybulk cargoes along shipping routes. The company owned fleet of dry cargo vessels which consists of Capesize, Panamax, Ultramax, Supramax, Handymax and Handysize vessels. Genco Shipping & Trading Ltd. is based in New York, United States. “
GNK has been the subject of a number of other research reports. Seaport Global Securities started coverage on shares of Genco Shipping & Trading in a research note on Tuesday, August 2nd. They set a “neutral” rating and a $6.00 target price for the company. Jefferies Group reiterated a “buy” rating on shares of Genco Shipping & Trading in a research note on Monday, September 12th.
Shares of Genco Shipping & Trading (NYSE:GNK) remained flat at $5.36 during trading on Monday. The company’s stock had a trading volume of 43,480 shares. Genco Shipping & Trading has a 52-week low of $3.62 and a 52-week high of $32.50. The firm’s market cap is $39.02 million. The firm’s 50-day moving average is $4.86 and its 200-day moving average is $5.58.
Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($5.59) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($6.26) by $0.67. The business earned $31.90 million during the quarter, compared to the consensus estimate of $35.81 million. Genco Shipping & Trading had a negative net margin of 204.16% and a negative return on equity of 17.53%. Equities analysts expect that Genco Shipping & Trading will post ($24.72) earnings per share for the current year.
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