Jefferies Group Reaffirms Buy Rating for Genco Shipping & Trading Ltd. (GNK)


Genco Shipping & Trading Ltd. (NYSE:GNK)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group in a research report issued on Monday.
GNK has been the subject of a number of other reports. Zacks Investment Research downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Wednesday, August 17th. Seaport Global Securities initiated coverage on Genco Shipping & Trading in a research note on Tuesday, August 2nd. They issued a “neutral” rating and a $6.00 price target for the company.
Shares of Genco Shipping & Trading (NYSE:GNK) traded up 4.20% during mid-day trading on Monday, reaching $4.96. The company’s stock had a trading volume of 75,433 shares. The firm has a 50 day moving average price of $4.95 and a 200 day moving average price of $6.02. Genco Shipping & Trading has a 52-week low of $3.62 and a 52-week high of $49.90. The firm’s market cap is $36.11 million.

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Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($5.59) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($6.26) by $0.67. The firm earned $31.90 million during the quarter, compared to the consensus estimate of $35.81 million. Genco Shipping & Trading had a negative return on equity of 17.53% and a negative net margin of 204.16%. On average, equities analysts predict that Genco Shipping & Trading will post ($24.72) EPS for the current fiscal year.

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