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Genco Shipping & Trading Stock Price, News & Analysis (NYSE:GNK)

$14.77
-0.88 (-5.62%)
(As of 02:52 PM ET)
Compare
Today's Range
$14.67
$15.31
50-Day Range
$12.82
$16.13
52-Week Range
$12.39
$19.84
Volume
720,769 shs
Average Volume
802,656 shs
Market Capitalization
$628.32 million
P/E Ratio
59.08
Dividend Yield
4.06%
Price Target
$20.67

Genco Shipping & Trading MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
38.3% Upside
$20.67 Price Target
Short Interest
Healthy
3.81% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
N/A
News Sentiment
0.81mentions of Genco Shipping & Trading in the last 14 days
Based on 3 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
230.36%
From $0.56 to $1.85 Per Share

Overall MarketRank

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

3.21 out of 5 stars

Transportation Sector

3rd out of 106 stocks

Deep Sea Foreign Transportation Of Freight Industry

1st out of 22 stocks


GNK stock logo

About Genco Shipping & Trading Stock (NYSE:GNK)

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 Stock Price History

GNK Stock News Headlines

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Autonomix is preparing a public listing as they develop technology to potentially detect and treat a range of nervous system disorders with much greater visibility than available today. Now, their management team sees a potentially untapped $100B market opportunity.* *Disclosure: This is a paid advertisement for Autonomix’s Regulation A+ Offering. Please read the offering circular at invest.autonomix.com
Genco Shipping & Trading (NYSE:GNK) Shares Gap Up to $14.70
Q3 2023 Genco Shipping & Trading Ltd Earnings Call
How to Invest Early In the Next Potential Breakthrough Nerve-Sensing Technology
Autonomix is preparing a public listing as they develop technology to potentially detect and treat a range of nervous system disorders with much greater visibility than available today. Now, their management team sees a potentially untapped $100B market opportunity.* *Disclosure: This is a paid advertisement for Autonomix’s Regulation A+ Offering. Please read the offering circular at invest.autonomix.com
Genco Shipping Is Still A Great Value Play
Cleaves Securities downgrades Genco Shipping (GNK) to a Hold
Genco Shipping: Some Risk But Great Potential
Q2 2023 Genco Shipping & Trading Ltd Earnings Call
Earnings Outlook For Genco Shipping & Trading
See More Headlines
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Company Calendar

Last Earnings
11/08/2023
Ex-Dividend for 11/30 Dividend
11/21/2023
Dividend Payable
11/30/2023
Today
12/05/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/28/2024

Industry, Sector and Symbol

Industry
Marine Shipping
Sub-Industry
N/A
Previous Symbol
OTCBB:GSKNF
Employees
1,086
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$20.67
High Stock Price Target
$22.00
Low Stock Price Target
$20.00
Potential Upside/Downside
+40.0%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
3 Analysts

Profitability

Net Income
$158.58 million
Pretax Margin
2.87%

Debt

Sales & Book Value

Annual Sales
$536.93 million
Cash Flow
$4.89 per share
Book Value
$22.88 per share

Miscellaneous

Free Float
41,654,000
Market Cap
$627.89 million
Optionable
Not Optionable
Beta
1.08
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GNK Stock Analysis - Frequently Asked Questions

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

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Genco Shipping & Trading in the last twelve months. There are currently 3 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 target for 2024?

3 analysts have issued 1 year target prices for Genco Shipping & Trading's stock. Their GNK share price targets range from $20.00 to $22.00. On average, they anticipate the company's stock price to reach $20.67 in the next twelve months. This suggests a possible upside of 38.3% 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 on January 1st, 2023. Since then, GNK shares have decreased by 2.7% and is now trading at $14.94.
View the best growth stocks for 2023 here
.

Are investors shorting Genco Shipping & Trading?

Genco Shipping & Trading saw a drop in short interest in October. As of October 31st, there was short interest totaling 1,900,000 shares, a drop of 10.8% from the October 15th total of 2,130,000 shares. Based on an average daily volume of 620,300 shares, the short-interest ratio is currently 3.1 days. Currently, 4.8% of the shares of the company are sold short.
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, February 28th 2024.
View our GNK earnings forecast
.

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

Genco Shipping & Trading Limited (NYSE:GNK) posted its earnings results on Wednesday, November, 8th. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.04. The shipping company earned $83.36 million during the quarter, compared to analyst estimates of $46.21 million. Genco Shipping & Trading had a net margin of 2.75% and a trailing twelve-month return on equity of 4.11%. The business's quarterly revenue was down 38.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share.

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

Genco Shipping & Trading declared a quarterly dividend on Wednesday, November 8th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.15 per share on Thursday, November 30th. This represents a $0.60 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Tuesday, November 21st.
Read our dividend analysis for GNK
.

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 3.72%. The dividend payout ratio is 240.00%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, GNK will have a dividend payout ratio of 32.43% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GNK.

What ETFs hold Genco Shipping & Trading's stock?
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?
Who are Genco Shipping & Trading's major shareholders?

Genco Shipping & Trading's stock is owned by many different institutional and retail investors. Top institutional investors include Cowen AND Company LLC (1.97%), Loomis Sayles & Co. L P (1.84%), FMR LLC (1.64%), American Century Companies Inc. (1.60%), AQR Capital Management LLC (1.44%) and Townsend & Associates Inc (1.43%). Insiders that own company stock include Apollo Management Holdings Gp,, Apostolos Zafolias, Arthur L Regan, Cayman Gp Ltd Ccp II, John C Wobensmith, Joseph Adamo, Robert E Hughes and Strategic Value Partners, Llc.
View institutional ownership trends
.

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.

This page (NYSE:GNK) was last updated on 12/5/2023 by MarketBeat.com Staff

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