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S&P 500   4,288.05
DOW   33,507.50
QQQ   358.27
Powerball jackpot rises to $1.04 billion after another drawing without a big winner
[BREAKING] New "Living Missile" to Replace Nuclear Missiles (Ad)
Who is Arthur Engoron? Judge weighing future of Donald Trump empire is Ivy League-educated ex-cabbie
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[BREAKING] New "Living Missile" to Replace Nuclear Missiles (Ad)
Federal student loan payments are starting again. Here's what you need to know
Native Hawaiian neighborhood survived Maui fire. Lahaina locals praise its cultural significance
66,000% upside on tiny biotech? (Ad)
A fight over precious groundwater in a rural California town is rooted in carrots
Indonesia is set to launch Southeast Asia's first high-speed railway, largely funded by China
S&P 500   4,288.05
DOW   33,507.50
QQQ   358.27
Powerball jackpot rises to $1.04 billion after another drawing without a big winner
[BREAKING] New "Living Missile" to Replace Nuclear Missiles (Ad)
Who is Arthur Engoron? Judge weighing future of Donald Trump empire is Ivy League-educated ex-cabbie
Promoting tradition as well as beans, Ethiopian coffee shops find fans far from home
[BREAKING] New "Living Missile" to Replace Nuclear Missiles (Ad)
Federal student loan payments are starting again. Here's what you need to know
Native Hawaiian neighborhood survived Maui fire. Lahaina locals praise its cultural significance
66,000% upside on tiny biotech? (Ad)
A fight over precious groundwater in a rural California town is rooted in carrots
Indonesia is set to launch Southeast Asia's first high-speed railway, largely funded by China
S&P 500   4,288.05
DOW   33,507.50
QQQ   358.27
Powerball jackpot rises to $1.04 billion after another drawing without a big winner
[BREAKING] New "Living Missile" to Replace Nuclear Missiles (Ad)
Who is Arthur Engoron? Judge weighing future of Donald Trump empire is Ivy League-educated ex-cabbie
Promoting tradition as well as beans, Ethiopian coffee shops find fans far from home
[BREAKING] New "Living Missile" to Replace Nuclear Missiles (Ad)
Federal student loan payments are starting again. Here's what you need to know
Native Hawaiian neighborhood survived Maui fire. Lahaina locals praise its cultural significance
66,000% upside on tiny biotech? (Ad)
A fight over precious groundwater in a rural California town is rooted in carrots
Indonesia is set to launch Southeast Asia's first high-speed railway, largely funded by China

Genco Shipping & Trading (GNK) Stock Forecast, Price & News

$13.99
+0.12 (+0.87%)
(As of 09/29/2023 ET)
Compare
Today's Range
$13.91
$14.02
50-Day Range
$13.26
$14.57
52-Week Range
$12.29
$19.84
Volume
433,029 shs
Average Volume
580,380 shs
Market Capitalization
$594.99 million
P/E Ratio
7.17
Dividend Yield
4.29%
Price Target
$23.40

Genco Shipping & Trading MarketRank™ Forecast

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
67.3% Upside
$23.40 Price Target
Short Interest
Healthy
4.84% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
N/A
Insider Trading
N/A
Proj. Earnings Growth
187.30%
From $0.63 to $1.81 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.20 out of 5 stars

Transportation Sector

6th out of 117 stocks

Deep Sea Foreign Transportation Of Freight Industry

4th out of 28 stocks


GNK stock logo

About Genco Shipping & Trading (NYSE:GNK) Stock

Genco Shipping & Trading Limited is a global leader in dry bulk shipping, transporting iron ore, coal, grain, and other commodities across the world's oceans. The company's mission is to provide reliable and efficient transportation solutions while maintaining a commitment to safety, environmental responsibility, and customer satisfaction.

Headquartered in New York, Genco Shipping operates a fleet of 17 Capesize, 15 Ultramax, and 12 Supermax vessels with a total capacity of approximately 4.6 million deadweight tons. The average age of the ships in its fleet is about 11 years old. The company's clients include leading miners, traders, and producers of commodities, as well as international governmental organizations.

Genco Shipping has received several accolades in recent years, including the Lloyd's List North American Maritime Award for Excellence in Shipping in 2021 and the Capital Link Maritime CSR Leadership Award in 2020.

Genco Shipping is led by an experienced management team with extensive expertise in the shipping industry. The company's Chairman and Chief Executive Officer, John C. Wobensmith, has over 30 years of experience in the industry, having held senior positions at leading shipping companies such as Deutsche Bank Shipping Group and Overseas Shipholding Group.

The company's Chief Financial Officer, Apostolos Zafolias, has over 25 years of experience in finance and shipping, having previously served as CFO of the dry bulk shipping company Star Bulk Carriers. Genco Shipping's management team includes seasoned operations, commercial and technical professionals.

Genco Shipping's financial performance has been moderate in recent years, driven by favorable market conditions and the company's strategic focus on efficiency and cost control. The company has reported increased revenue, net income, and gross profit margin for several years. The company has little debt compared to assets, approximately 5x more than its liabilities. 

Genco Shipping's valuation metrics are attractive relative to industry peers. The company's price-to-earnings and price-to-book ratios are much lower than industry peers. These metrics could suggest that Genco Shipping's stock is undervalued relative to its peers.

Genco Shipping's stock price has mirrored its peers and is relatively volatile. This volatility is driven by changing freight rates and changes in the demand for dry bulk commodities.

The dry bulk shipping industry has experienced strong demand in recent years, driven by increasing global trade volumes and the ongoing recovery of the global economy. However, the industry also faces several challenges, including overcapacity, geopolitical risks, and regulatory pressures related to environmental sustainability.

Genco Shipping's competitive positioning is strong, thanks to its modern and fuel-efficient fleet, its focus on cost control, and its long-standing relationships with key customers in the industry. The company also has a healthy balance sheet, which provides flexibility for growth opportunities.

Despite the shipping industry's challenges, Genco Shipping & Trading Limited has identified several potential growth opportunities. One of the primary growth opportunities is expanding its fleet through acquisitions. Genco is constantly evaluating potential acquisition targets, which would increase its fleet size and enable it to serve a broader customer base.

Additionally, the company is actively seeking to expand its presence in new markets. In recent years, Genco has expanded its operations to include the transportation of other commodities such as iron ore, coal, and grain. This diversification has enabled the company to expand its customer base and reduce reliance on a single commodity.

Genco is exploring using technology to improve its operations and increase efficiency. The company has invested in technology to enhance vessel performance, reduce fuel consumption, and lower operating costs. These investments have already yielded positive results, and the company plans to continue investing in technology to maintain its competitive edge.

Despite the growth potential, Genco Shipping & Trading Limited faces several risks and challenges. One of the company's primary challenges is the oversupply of vessels in the market, which has led to intense competition and pricing pressure. 

Genco is exposed to geopolitical and economic risks, including changes in trade policies and tariffs, which could impact the demand for its services. In addition, the company is exposed to fluctuations in fuel prices, which can significantly impact its operating costs.

Genco Shipping & Trading Limited has implemented several risk management strategies to mitigate these risks. These include maintaining a diversified customer base, securing long-term contracts, and maintaining a modern and efficient fleet. The company is also actively exploring opportunities to reduce its environmental impact by investing in green technology and reducing emissions.

GNK Price History

GNK Stock News Headlines

Cleaves Securities downgrades Genco Shipping (GNK) to a Hold
Genco Shipping: Some Risk But Great Potential
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Q2 2023 Genco Shipping & Trading Ltd Earnings Call
Man Gets Into a Self-Driving Tesla… What Happens Next will Shock Everyone (Video)
“Hi, I’m Teeka Tiwari...I’m about to get in this Tesla and drive up to a facility just a few miles from here to show you what could be the secret behind Elon Musk’s new AI project… What happens next will shock you…”
Earnings Outlook For Genco Shipping & Trading
Cleaves Securities Keeps Their Buy Rating on Genco Shipping (GNK)
Jefferies Sticks to Their Buy Rating for Genco Shipping (GNK)
See More Headlines
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GNK Company Calendar

Last Earnings
8/04/2023
Ex-Dividend for 8/23 Dividend
8/15/2023
Dividend Payable
8/23/2023
Today
10/01/2023
Next Earnings (Estimated)
11/08/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Deep sea foreign transportation of freight
Sub-Industry
N/A
Previous Symbol
OTCBB:GSKNF
Employees
1,086
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$23.40
High Stock Price Forecast
$27.00
Low Stock Price Forecast
$20.00
Forecasted Upside/Downside
+67.3%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
4 Analysts

Profitability

Net Income
$158.58 million
Pretax Margin
18.82%

Debt

Sales & Book Value

Annual Sales
$536.93 million
Cash Flow
$5.34 per share
Book Value
$22.88 per share

Miscellaneous

Free Float
41,466,000
Market Cap
$594.99 million
Optionable
Not Optionable
Beta
1.11
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Key Executives

  • Mr. John C. WobensmithMr. John C. Wobensmith (Age 53)
    CEO, Pres, Sec. & Director
    Comp: $1.8M
  • Mr. Joseph Adamo (Age 61)
    Chief Accounting Officer, Controller & Treasurer
    Comp: $496.77k
  • Mr. Peter Allen C.F.A. (Age 36)
    Chief Financial Officer
  • Mr. Jesper Christensen (Age 37)
    Chief Commercial Officer













GNK Stock - Frequently Asked Questions

Should I buy or sell Genco Shipping & Trading stock right now?

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Genco Shipping & Trading in the last twelve months. There are currently 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" GNK shares.
View GNK analyst ratings
or view top-rated stocks.

What is Genco Shipping & Trading's stock price forecast for 2023?

4 brokers have issued 1-year target prices for Genco Shipping & Trading's stock. Their GNK share price forecasts range from $20.00 to $27.00. On average, they predict the company's stock price to reach $23.40 in the next year. This suggests a possible upside of 67.3% from the stock's current price.
View analysts price targets for GNK
or view top-rated stocks among Wall Street analysts.

How have GNK shares performed in 2023?

Genco Shipping & Trading's stock was trading at $15.36 at the beginning of 2023. Since then, GNK shares have decreased by 8.9% and is now trading at $13.99.
View the best growth stocks for 2023 here
.

Are investors shorting Genco Shipping & Trading?

Genco Shipping & Trading saw a increase in short interest in the month of August. As of August 31st, there was short interest totaling 2,010,000 shares, an increase of 16.9% from the August 15th total of 1,720,000 shares. Based on an average trading volume of 652,800 shares, the days-to-cover ratio is currently 3.1 days. Approximately 5.0% of the shares of the stock are short sold.
View Genco Shipping & Trading's Short Interest
.

When is Genco Shipping & Trading's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023.
View our GNK earnings forecast
.

How were Genco Shipping & Trading's earnings last quarter?

Genco Shipping & Trading Limited (NYSE:GNK) released its earnings results on Friday, August, 4th. The shipping company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.10. The shipping company had revenue of $90.60 million for the quarter, compared to analysts' expectations of $61.69 million. Genco Shipping & Trading had a trailing twelve-month return on equity of 8.90% and a net margin of 18.69%. Genco Shipping & Trading's quarterly revenue was down 34.3% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share.

How often does Genco Shipping & Trading pay dividends? What is the dividend yield for Genco Shipping & Trading?

Genco Shipping & Trading announced a quarterly dividend on Thursday, August 3rd. Investors of record on Wednesday, August 16th will be given a dividend of $0.15 per share on Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Tuesday, August 15th.
Read our dividend analysis for GNK
.

What ETFs hold Genco Shipping & Trading's stock?
Is Genco Shipping & Trading a good dividend stock?

Genco Shipping & Trading (NYSE:GNK) pays an annual dividend of $0.60 per share and currently has a dividend yield of 4.29%. GNK has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 30.77%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GNK will have a dividend payout ratio of 33.15% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GNK.

What is Nick Mackenzie's approval rating as Genco Shipping & Trading's CEO?

89 employees have rated Genco Shipping & Trading Chief Executive Officer Nick Mackenzie on Glassdoor.com. Nick Mackenzie has an approval rating of 83% among the company's employees.

What other stocks do shareholders of Genco Shipping & Trading own?
What is Genco Shipping & Trading's stock symbol?

Genco Shipping & Trading trades on the New York Stock Exchange (NYSE) under the ticker symbol "GNK."

How do I buy shares of Genco Shipping & Trading?

Shares of GNK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Genco Shipping & Trading's stock price today?

One share of GNK stock can currently be purchased for approximately $13.99.

How much money does Genco Shipping & Trading make?

Genco Shipping & Trading (NYSE:GNK) has a market capitalization of $594.99 million and generates $536.93 million in revenue each year. The shipping company earns $158.58 million in net income (profit) each year or $1.95 on an earnings per share basis.

How many employees does Genco Shipping & Trading have?

The company employs 1,086 workers across the globe.

How can I contact Genco Shipping & Trading?

Genco Shipping & Trading's mailing address is 299 Park Avenue 12th Floor, NEW YORK NY, 10171. The official website for the company is www.gencoshipping.com. The shipping company can be reached via phone at (646) 443-8550, via email at finance@gencoshipping.com, or via fax at 646-443-8551.

This page (NYSE:GNK) was last updated on 10/1/2023 by MarketBeat.com Staff

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