
GNK Stock Forecast & Price Target
GNK Analyst Ratings
Bulls say
Genco Shipping & Trading Ltd is enhancing its fleet by acquiring a high-quality, scrubber-fitted Japanese Cape vessel, expanding its Cape fleet to 17 ships, which may improve operational efficiency and regulatory compliance. For the third quarter, the company has secured 70% of its operating days at an average rate of $15,926 per day, with Cape and Ultra/Supramax vessels achieving rates of $20,951 and $13,326 per day, respectively, demonstrating resilience in a recovering market. Additionally, Genco's strong balance sheet and commitment to a meaningful dividend policy support a positive long-term outlook, particularly as the stock trades at a discount to its net asset value.
Bears say
Genco Shipping & Trading Ltd reported a second-quarter adjusted EPS loss of $0.14, which was consistent with consensus forecasts, indicating a lack of financial improvement despite expectations. The broader economic environment, characterized by higher interest rates, poses a risk to ship values, potentially leading to further declines in the company’s asset valuations. Additionally, the company's performance in August, typically a weaker month for the industry, does not sufficiently mitigate concerns regarding its overall financial stability and future earnings potential.
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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