GNK Stock Recent News

Genco Shipping remains one of my favorite dry bulk bets. The company barbell approach makes it attractive to me. Financially, the Company has significantly improved its capital structure over the last few years. On December 31, it declared $47 million in cash and $190 in long-term debt. FY23 GNK realized lower TCE rates compared to FY22. However, the company employed its ships in 1Q24 at TCE, 35% higher than the 2023 average.

Genco Shipping CEO John Wobensmith outlines how climate events and geopolitical headwinds, such as the restriction of the Panama Canal and reduced grain exports from Ukraine, are affecting the shipping industry. How climate and geopolitics are affecting shipping, according to Genco CEO

NEW YORK, March 04, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that John C. Wobensmith, Chief Executive Officer, and Peter Allen, Chief Financial Officer, are scheduled to participate in the following investor conferences:

Genco Shipping (GNK) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

APAM, GNK and HTHT made it to the Zacks Rank #1 (Strong Buy) income stocks list on February 22, 2024.

Genco Shipping & Trading (GNK) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.67 per share a year ago.

The mean of analysts' price targets for Genco Shipping (GNK) points to a 34.5% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Genco Shipping (GNK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

NEW YORK, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company's results for the fourth quarter of 2023 on Thursday, February 22, 2024 at 8:30 a.m. Eastern Time. The conference call will also be broadcast live over the Internet and include a slide presentation. The Company will issue financial results for the fourth quarter ended December 31, 2023 on Wednesday, February 21, 2024 after the close of market trading.

The average of price targets set by Wall Street analysts indicates a potential upside of 28.3% in Genco Shipping (GNK). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.