Is Genco Shipping \u0026 Trading (NYSE:GNK) a Sell? What does Noble Financial Think?

January 13, 2018 - By Hazel Jackson

 Is Genco Shipping \u0026 Trading (NYSE:GNK) a Sell? What does Noble Financial Think?

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

In a note issued to clients on Friday morning, research analysts at Noble Financial initiated coverage for Genco Shipping \u0026 Trading (NYSE:GNK) shares. The firm has decided to set a Buy rating along with a $20, adding 40.25 % to the target.

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. Morgan Stanley upgraded it to “Equal-Weight” rating and $13 target in Tuesday, March 28 report. The stock of Genco Shipping & Trading Limited (NYSE:GNK) has “Buy” rating given on Friday, September 29 by Jefferies. The rating was maintained by Jefferies with “Buy” on Monday, August 28. On Monday, December 18 the stock rating was initiated by Jefferies with “Buy”. Jefferies maintained Genco Shipping & Trading Limited (NYSE:GNK) on Monday, October 30 with “Buy” rating. The firm earned “Buy” rating on Wednesday, July 27 by Jefferies. Jefferies maintained Genco Shipping & Trading Limited (NYSE:GNK) rating on Monday, July 17. Jefferies has “Buy” rating and $2200 target. The firm has “Underweight” rating by Morgan Stanley given on Tuesday, December 15. As per Tuesday, August 2, the company rating was initiated by Seaport Global. The stock of Genco Shipping & Trading Limited (NYSE:GNK) has “Buy” rating given on Wednesday, May 10 by Seaport Global.

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 EPS, up 99.10 % or $3.32 from last year’s $-3.35 per share. After $-0.36 actual EPS 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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