Zacks: Genco Shipping & Trading Ltd. (GNK) Receives Consensus Rating of “Hold” from Brokerages
Shares of Genco Shipping & Trading Ltd. (NYSE:GNK) have been given an average broker rating score of 2.77 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. Genco Shipping & Trading’s rating score has declined by 4.5% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokers have set a 1-year consensus price target of $8.00 for the company and are predicting that the company will post ($5.22) EPS for the current quarter, according to Zacks. Zacks has also assigned Genco Shipping & Trading an industry rank of 226 out of 265 based on the ratings given to related companies.
GNK has been the subject of a number of recent analyst reports. Jefferies Group reiterated a “buy” rating on shares of Genco Shipping & Trading in a research report on Monday, September 12th. Seaport Global Securities initiated coverage on shares of Genco Shipping & Trading in a research report on Tuesday, August 2nd. They set a “neutral” rating and a $6.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Genco Shipping & Trading from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research report on Friday, August 5th.
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Genco Shipping & Trading (NYSE:GNK) traded up 1.4907% during mid-day trading on Monday, reaching $5.4399. 25,269 shares of the company traded hands. Genco Shipping & Trading has a one year low of $3.62 and a one year high of $33.10. The stock’s 50-day moving average price is $4.85 and its 200-day moving average price is $5.60. The firm’s market cap is $39.60 million.
Genco Shipping & Trading (NYSE:GNK) last announced its earnings results on Wednesday, August 3rd. The company reported ($5.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($6.26) by $0.67. The business earned $31.90 million during the quarter, compared to analysts’ expectations of $35.81 million. Genco Shipping & Trading had a negative net margin of 204.16% and a negative return on equity of 17.53%. Analysts forecast that Genco Shipping & Trading will post ($24.72) earnings per share for the current fiscal year.
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