Zacks Upgrades Genco Shipping & Trading to “Outperform” (GNK)
Genco Shipping & Trading (NYSE:GNK) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has a $2.80 target price on the stock. Zacks‘ target price points to a potential upside of 19.15% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nordea Equity Research upgraded shares of Genco Shipping & Trading from a “strong sell” rating to a “buy” rating in a research note to investors on Thursday, January 23rd. Analysts at Maxim Group initiated coverage on shares of Genco Shipping & Trading in a research note to investors on Thursday, November 21st. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Genco Shipping & Trading presently has an average rating of “Buy” and a consensus target price of $2.45.
Genco Shipping & Trading (NYSE:GNK) last released its earnings data on Thursday, November 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.06. The company had revenue of $59.43 million for the quarter, compared to the consensus estimate of $53.79 million. During the same quarter in the previous year, the company posted ($0.90) earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis.
Genco Shipping & Trading Limited (NYSE:GNK) transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels.
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