
GNK Stock Forecast & Price Target
GNK Analyst Ratings
Bulls say
Genco Shipping & Trading Ltd is strengthening its fleet with the recent acquisition of a high-quality, scrubber-fitted Japanese Cape vessel, which brings its total Cape fleet to 17 ships, enhancing its operational capabilities. The company is poised for improved performance in the third quarter, having secured 70% of its operating days at an average of $15,926 per day, with even higher rates for its Cape and Ultra/Supra days. Furthermore, Genco's robust balance sheet, established dividend policy, and attractive valuation at 0.75 times its net asset value contribute to a positive outlook for the company’s future financial performance.
Bears say
Genco Shipping & Trading Ltd reported a second quarter adjusted EPS loss of $0.14, which aligned with the consensus and internal loss estimates, indicating ongoing challenges in achieving profitability. The company operates in a sector that traditionally experiences a decline during August, yet despite a positive note regarding revenue expectations, the financial fundamentals remain weak. Additionally, the prevailing high interest rates pose a significant risk to ship values, further contributing to the negative outlook on the stock as the potential for asset depreciation looms larger in a rising rate environment.
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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