Genco Shipping & Trading Limited [GNK] stock is trading at $19.47, down -2.01%. An important factor to consider is whether the stock is rising or falling in short-term value. The GNK shares have gain 9.88% over the last week, with a monthly amount glided 11.77%, and seem to be holding up well over a long-time horizon.
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On 21, February 2024, Genco Shipping & Trading Limited Announces Q4 2023 Financial Results. In a post published today on Yahoo Finance, Executes on All Three Pillars of Value Strategy Related to Dividends, Deleveraging and Growth.
From an analyst’s perspective:
Genco Shipping & Trading Limited [NYSE: GNK] stock has seen the most recent analyst activity on January 05, 2024, when BTIG Research downgraded its rating to a Neutral. Previously, Stifel started tracking the stock with Buy rating on September 30, 2022, and set its price target to $20. On August 03, 2022, Alliance Global Partners initiated with a Buy rating and assigned a price target of $29 on the stock. Jefferies started tracking the stock assigning a Buy rating and suggested a price target of $25 on July 21, 2022. H.C. Wainwright started tracking with a Buy rating for this stock on September 13, 2021, and assigned it a price target of $30. In a note dated July 29, 2020, DNB Markets upgraded an Buy rating on this stock.
Genco Shipping & Trading Limited [GNK] stock has fluctuated between $12.39 and $19.94 over the past year. Currently, Wall Street analysts expect the stock to reach $20 within the next 12 months. Genco Shipping & Trading Limited [NYSE: GNK] shares were valued at $19.47 at the most recent close of the market. An investor can expect a potential return of 2.72% based on the average GNK price forecast.
Analyzing the GNK fundamentals
Genco Shipping & Trading Limited [NYSE:GNK] reported sales of 383.82M for the trailing twelve months, which represents a drop of -9.02%. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 19.24 points at the first support level, and at 19.01 for the second support level. However, for the 1st resistance point, the stock is sitting at 19.73, and for the 2nd resistance point, it is at 19.99.
Genco Shipping & Trading Limited [GNK] reported earnings per share of $0.43 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.42/share, meaning a difference of $0.01 and a surprise factor of 2.40%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.09 per share as compared to estimates of -$0.11 per share, a difference of $0.02 representing a surprise of 18.20%.
Ratios To Look Out For
For context, Genco Shipping & Trading Limited’s Current Ratio is 4.46. On the other hand, the Quick Ratio is 3.70, and the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 2.16, the price to book ratio is 0.90.
Transactions by insiders
Recent insider trading involved WOBENSMITH JOHN C, CEO, President, and Secretary, that happened on Feb 23 when 35660.0 shares were sold. Chief Commercial Officer, Christensen Jesper completed a deal on Feb 23 to sell 12404.0 shares. Meanwhile, Chief Financial Officer Allen Peter George sold 7036.0 shares on Feb 23.
