Share on StockTwits
 

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.

To view Zacks’ full report, visit www.zacks.com

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.