Genco Shipping \u0026 Trading (NYSE:GNK) Sees Coverage Initiated By Noble Financial with a $20 Price

January 13, 2018 - By Winifred Garcia

 Genco Shipping \u0026 Trading (NYSE:GNK) Sees Coverage Initiated By Noble Financial with a $20 Price

Why Has Noble Financial Given Genco Shipping \u0026 Trading (NYSE:GNK) a $20 Price Target

Noble Financial analyst has initiated coverage on Genco Shipping \u0026 Trading (NYSE:GNK) with a $20 target and “Buy” rating. The target would indicate a potential upside of 40.25 % from firm’s last price.

Genco Shipping & Trading Limited (NYSE:GNK) Ratings Coverage

Among 5 analysts covering Genco Shipping & Trading Limited (NYSE:GNK), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Genco Shipping & Trading Limited has $22 highest and $1.20 lowest target. $16.20’s average target is 13.60% above currents $14.26 stock price. Genco Shipping & Trading Limited had 15 analyst reports since October 23, 2015 according to SRatingsIntel. The stock of Genco Shipping & Trading Limited (NYSE:GNK) has “Underweight” rating given on Tuesday, December 15 by Morgan Stanley. As per Monday, October 30, the company rating was maintained by Jefferies. The firm has “Buy” rating given on Monday, December 18 by Jefferies. The firm earned “Buy” rating on Monday, August 28 by Jefferies. The firm has “Buy” rating by Jefferies given on Monday, July 17. The company was upgraded on Tuesday, March 28 by Morgan Stanley. The stock of Genco Shipping & Trading Limited (NYSE:GNK) has “Buy” rating given on Wednesday, May 10 by Seaport Global. Jefferies maintained Genco Shipping & Trading Limited (NYSE:GNK) rating on Wednesday, July 27. Jefferies has “Buy” rating and $13 target. The rating was initiated by Seaport Global with “Neutral” on Tuesday, August 2. The rating was maintained by Jefferies with “Buy” on Friday, September 29.

The stock increased 8.69% or $1.14 during the last trading session, reaching $14.26. About 405,054 shares traded or 327.61% up from the average. Genco Shipping & Trading Limited (NYSE:GNK) has risen 104.62% since January 13, 2017 and is uptrending. It has outperformed by 87.92% the S&P500.

Analysts await Genco Shipping & Trading Limited (NYSE:GNK) to report earnings on March, 7. They expect $-0.03 earnings per share, up 99.10 % or $3.32 from last year’s $-3.35 per share. After $-0.36 actual earnings per share reported by Genco Shipping & Trading Limited for the previous quarter, Wall Street now forecasts -91.67 % EPS growth.

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company has market cap of $492.43 million. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. It currently has negative earnings. The firm charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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