Trade Report: Today: Brokerages Expect Genco Shipping & Trading Ltd. (GNK) to Post ($1.04) Earnings Per Share

Today: Brokerages Expect Genco Shipping & Trading Ltd. (GNK) to Post ($1.04) Earnings Per Share

Genco Shipping & Trading Ltd. (NYSE:GNK) has 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 recommendation, one has issued a hold recommendation and one has issued a strong buy recommendation on the company.

Brokers have set a 12-month consensus price objective of $6.67 for the company and are expecting that the company will post ($1.04) earnings per share for the current quarter, according to Zacks. Zacks has also given Genco Shipping & Trading an industry rank of 95 out of 265 based on the ratings given to related companies.

Several research analysts recently issued reports on GNK shares. Seaport Global Securities started coverage on shares of Genco Shipping & Trading in a research report on Tuesday, August 2nd. They issued a “neutral” rating and a $6.00 price target for the company. Zacks Investment Research raised shares of Genco Shipping & Trading from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research report on Friday, August 5th. Finally, Jefferies Group reissued a “buy” rating on shares of Genco Shipping & Trading in a research report on Monday, August 29th.

Genco Shipping & Trading (NYSE:GNK) traded up 5.15% on Monday, hitting $8.37. The company’s stock had a trading volume of 18,634 shares. The company’s market capitalization is $61.24 million. Genco Shipping & Trading has a 1-year low of $3.62 and a 1-year high of $17.80. The company has a 50 day moving average price of $6.62 and a 200-day moving average price of $5.60.

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