
GNK Stock Forecast & Price Target
GNK Analyst Ratings
Bulls say
Genco Shipping & Trading Ltd's recent acquisition of a high-quality, scrubber-fitted Cape vessel enhances its fleet, which now totals 17 ships, substantially increasing its operational capacity in the bulk shipping market. The company is experiencing improved financial conditions in the third quarter, with 70% of its operating days fixed at an average rate of $15,926 per day, and significant day rates for its Cape and Ultra/Supra vessels, indicating strong demand for its services. Furthermore, Genco is supported by a robust balance sheet and a meaningful dividend policy, alongside its valuation being at a discount relative to its net asset value, reinforcing a positive outlook for the company's stock performance.
Bears say
Genco Shipping & Trading Ltd reported a second-quarter adjusted EPS loss of $0.14, aligning with both the consensus forecast and previous estimates, indicating weak financial performance. The company's outlook is further dampened by the current high interest rates, which are generally linked to declining ship values, posing a risk to the company's asset base. Additionally, the second quarter's results occurring during a typically soft month for the sector highlight ongoing challenges in revenue generation, raising concerns about future profitability.
This aggregate rating is based on analysts' research of Genco Shipping & Trading and is not a guaranteed prediction by Public.com or investment advice.
GNK Analyst Forecast & Price Prediction
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