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Zacks upgrade shares of Genco Shipping & Trading

Zacks upgrade shares of Genco Shipping & Trading

MEXICO: Zacks upgraded shares of Genco Shipping & Trading from a sell rating to a hold rating in a research report sent to investors, MarketBeat reports.

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. “

The firm has a market capitalization of $117.97 million and a P/E ratio of 0.19. The company’s 50 day moving average is $3.41 and its 200 day moving average is $4.98. Genco Shipping & Trading has a one year low of $1.80 and a one year high of $7.85.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by $0.05. The firm had revenue of $50 million for the quarter, compared to the consensus estimate of $48.07 million. On average, equities analysts expect that Genco Shipping & Trading will post ($1.80) EPS for the current fiscal year.

In related news, insider John C. Wobensmith sold 17,190 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $7.00, for a total value of $120,330.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Group dropped their target price on shares of Genco Shipping & Trading to $8.00 and set a buy rating for the company in a report on Friday, October 23rd. GMP Securities started coverage on shares of Genco Shipping & Trading in a report on Thursday, August 13th. They set a buy rating and a $10.00 price target for the company.
Source: MarketBeat