Global Hunter Securities Initiates Coverage on Genco Shipping & Trading Ltd (GNK)
Equities researchers at Global Hunter Securities assumed coverage on shares of Genco Shipping & Trading Ltd (NYSE: GNK) in a report issued on Tuesday. The firm set a “reduce” rating and a $2.50 price target on the stock.
Shares of Genco Shipping & Trading Ltd traded down 0.32% during mid-day trading on Tuesday, hitting $3.14. Genco Shipping & Trading Ltd has a one year low of $4.15 and a one year high of $10.14. The company’s market cap is $134.6 million.
Genco Shipping & Trading Ltd last issued its quarterly earnings data on Monday, April 30th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by $0.13. The company’s revenue for the quarter was down 41.0% on a year-over-year basis. On average, analysts predict that Genco Shipping & Trading Ltd will post $-0.61 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of Genco Shipping & Trading Ltd from $6.00 to $5.00 in a research note to investors on Wednesday, May 2nd. They now have a “hold” rating on the stock. Analysts at TheStreet downgraded shares of Genco Shipping & Trading Ltd to a “sell” rating in a research note to investors on Monday, April 9th.
Genco Shipping & Trading Limited (GS&T) is engaged in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes.