Today, Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) Upgraded to Buy at Zacks Investment Research

Today, Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) from a hold rating to a buy rating in a report published on Monday morning. They currently have $6.00 price objective on the stock.

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. “

Other research analysts also recently issued reports about the company. Seaport Global Securities began coverage on Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Tuesday, August 2nd. They issued a neutral rating and a $6.00 price target on the stock. Jefferies Group reiterated a buy rating on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a report on Monday, September 12th.

Genco Shipping & Trading Limited Ordinary Shares New (NYSE:GNK) opened at 5.41 on Monday. The stock’s market capitalization is $39.38 million. The firm has a 50-day moving average price of $4.86 and a 200-day moving average price of $5.58. Genco Shipping & Trading Limited Ordinary Shares New has a 52 week low of $3.62 and a 52 week high of $32.50.

Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($5.59) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($6.26) by $0.67. Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) had a negative return on equity of 17.53% and a negative net margin of 204.16%. The business had revenue of $31.90 million for the quarter, compared to the consensus estimate of $35.81 million. Equities research analysts predict that Genco Shipping & Trading Limited Ordinary Shares New will post ($24.72) EPS for the current fiscal year.

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