Genco Shipping & Trading (GNK) Set to Announce Earnings on Wednesday

Genco Shipping & Trading (NYSE:GNK) will be issuing its quarterly earnings data after the market closes on Wednesday, November 7th. Analysts expect the company to announce earnings of $0.11 per share for the quarter.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings results on Wednesday, August 8th. The shipping company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. Genco Shipping & Trading had a negative net margin of 29.58% and a negative return on equity of 0.59%. The business had revenue of $86.16 million during the quarter, compared to analysts’ expectations of $59.97 million. On average, analysts expect Genco Shipping & Trading to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of NYSE GNK opened at $11.31 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.14 and a quick ratio of 3.85. Genco Shipping & Trading has a 12 month low of $9.75 and a 12 month high of $20.07. The firm has a market capitalization of $469.90 million, a price-to-earnings ratio of -8.77 and a beta of 0.50.

GNK has been the subject of several research reports. Noble Financial restated a “buy” rating and issued a $23.00 price objective on shares of Genco Shipping & Trading in a report on Friday, August 10th. MED restated a “reduce” rating on shares of Genco Shipping & Trading in a report on Tuesday, October 9th. B. Riley initiated coverage on shares of Genco Shipping & Trading in a report on Thursday, October 4th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, ValuEngine upgraded shares of Genco Shipping & Trading from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $18.81.

In related news, CEO John C. Wobensmith sold 12,210 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $12.73, for a total value of $155,433.30. Following the completion of the transaction, the chief executive officer now directly owns 267,142 shares in the company, valued at approximately $3,400,717.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John C. Wobensmith sold 20,817 shares of the stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $12.24, for a total transaction of $254,800.08. Following the completion of the transaction, the chief executive officer now owns 267,142 shares of the company’s stock, valued at $3,269,818.08. The disclosure for this sale can be found here. 1.23% of the stock is currently owned by corporate insiders.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, such as commodities traders; producers; and government-owned entities.

Further Reading: What is a Leveraged Buyout (LBO)?

Earnings History for Genco Shipping & Trading (NYSE:GNK)

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