Genco Shipping & Trading
GNK

$19.56

0.56%

Market Cap: 836M

About: Genco Shipping & Trading Ltd is an international shipping company specializing in the transportation of iron ore, coal, grain, steel products and other drybulk cargoes. It is involved in the ocean transportation of drybulk cargoes. The company operates in one segment, the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels. It generates revenue through time charter agreements, spot market voyage charters, pool agreements and spot market-related time charters.

Employees: 1,105

Industrials Deep Sea Foreign Transportation of Freight

0

Funds holding %

of 6,702 funds

0

Analysts bullish %

of 4 analysts

–

News positive %

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

34% more capital invested

Capital invested by funds: $378M [Q4 2023] → $508M (+$129M) [Q1 2024]

26% more repeat investments, than reductions

Existing positions increased: 58 | Existing positions reduced: 46

14% more first-time investments, than exits

New positions opened: 33 | Existing positions closed: 29

5.62% more ownership

Funds ownership: 53.42% [Q4 2023] → 59.04% (+5.62%) [Q1 2024]

3% more funds holding

Funds holding: 154 [Q4 2023] → 158 (+4) [Q1 2024]

0% more call options, than puts

Call options by funds: $6.83M | Put options by funds: $6.81M

0% more funds holding in top 10

Funds holding in top 10: 1 [Q4 2023] → 1 (+0) [Q1 2024]

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Research analyst outlook

4 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$23

18%

upside

Avg. target

$27

37%

upside

High target

$30

53%

upside

4 analyst ratings

4 positive

100%

0 neutral

0%

0 negative

0%

Alliance Global Partners Poe Fratt	38%upside $27	Buy Maintained	1 Jul 2024
B. Riley Securities Liam Burke	53%upside $30	Buy Maintained	10 May 2024
Jefferies Omar Nokta	38%upside $27	Buy Maintained	9 May 2024
Stifel Benjamin Nolan	18%upside $23	Buy Maintained	19 Apr 2024

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Financial journalist opinion

Genco Shipping & Trading Limited Announces Second Quarter 2024 Conference Call and Webcast

NEW YORK, July 16, 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 second quarter of 2024 on Thursday, August 8, 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 second quarter ended June 30, 2024 on Wednesday, August 7, 2024 after the close of market trading.

Genco Shipping & Trading Limited Announces Second Quarter 2024 Conference Call and Webcast

Genco Shipping: Disciplined Strategy, Good Dividend Investment

Genco, a shipper of drybulk cargo, has successfully turned itself around, becoming profitable and eliminating debt, making bankruptcy unlikely. The company owns a fleet of 43 vessels used for international drybulk shipping, with a "barbell" strategy focusing on Major and Minor Bulk cargo. Genco's financial results are heavily influenced by the Drybulk Index, with positive updates in FY 2023 and Q1 2024, including increased dividends and debt reduction.

Genco Shipping: Disciplined Strategy, Good Dividend Investment

Genco Shipping & Trading Shareholders Overwhelmingly Re-Elect All Genco Director Nominees at the 2024 Annual Meeting

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”) the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today announced that Genco shareholders have overwhelmingly voted at the Company's Annual Meeting to re-elect to the Company's Board of Directors all seven of Genco's highly qualified director nominees – James G. Dolphin, Paramita Das, Kathleen C. Haines, Basil G. Mavroleon, Karin Y. Orsel, Arthur L. Regan and John C. Wobensmith.

Genco Shipping & Trading Shareholders Overwhelmingly Re-Elect All Genco Director Nominees at the 2024 Annual Meeting

Genco Shipping & Trading Issues Statement Regarding George Economou's Withdrawal of his Nominee

Sets the Record Straight on Economou's Campaign Genco Continues Executing on the Comprehensive Value Strategy It Initiated in 2021 Shareholders Should Still Get Their Votes In “FOR” the Re-Election of Genco's Seven Highly Qualified Director Nominees NEW YORK, May 16, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE:GNK) (“Genco” or the “Company”) the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today issued the following statement regarding George Economou's withdrawal of the nomination of Robert Pons for election to the Genco Board of Directors. Genco issued the following statement: We are pleased that George Economou has withdrawn from the proxy fight that he started.

Genco Shipping & Trading Issues Statement Regarding George Economou's Withdrawal of his Nominee

Bloomberg Markets and Finance

Genco CEO on Baltimore Bridge Collapse, Shipping Costs

John Wobensmith, Genco Shipping and Trading CEO, says tons of coal are still waiting to be shipped out of Baltimore after the Key Bridge was struck and destroyed by a container ship. He also talks about ships avoiding the Red Sea and shipping costs.

Genco CEO on Baltimore Bridge Collapse, Shipping Costs

GK Investor's Genco Campaign Results in Material Improvement

NEW YORK--(BUSINESS WIRE)--GK Investor LLC (“GK”), a shareholder of Genco Shipping & Trading Limited (“Genco” or the “Company”) (NYSE: GNK), today announced the following: On December 28, 2023, the last trading day before GK publicly announced its position in Genco, the closing price of Genco's common stock was $16.48. Yesterday, the closing price of Genco's common stock was $22.53. GK believes that its advocacy on behalf of all common shareholders has been an important wake-up call to Genc.

GK Investor's Genco Campaign Results in Material Improvement

Genco Shipping & Trading Highlights Strong Results and 19th Consecutive Quarterly Dividend in Letter to Shareholders

Successfully Executing on its Comprehensive Value Strategy Reminds Shareholders to Vote “FOR” Genco's Nominees on the WHITE Proxy Card NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- Genco Shipping & Trading Limited (NYSE: GNK) (“Genco” or the “Company”), the largest U.S. headquartered drybulk shipowner focused on the global transportation of commodities, today mailed a letter to shareholders in connection with the Company's 2024 Annual Meeting of Shareholders (the “Annual Meeting”), scheduled to be held on May 23, 2024. Shareholders of record as of March 28, 2024 will be entitled to vote at the meeting.

Genco Shipping & Trading Highlights Strong Results and 19th Consecutive Quarterly Dividend in Letter to Shareholders

These 3 Industrials Stocks With Over 3% Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts - Genco Shipping & Trading (NYSE:GNK)

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

These 3 Industrials Stocks With Over 3% Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts - Genco Shipping & Trading (NYSE:GNK)

Genco Shipping & Trading Limited (GNK) Q1 2024 Earnings Call Transcript

Genco Shipping & Trading Limited (NYSE:GNK ) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET Company Participants John C. Wobensmith - Chief Executive Officer Peter Allen - Chief Financial Officer Michael Orr - Dry Bulk Market Analyst Conference Call Participants Omar Nokta - Jefferies Liam Burke - B.

Genco Shipping & Trading Limited (GNK) Q1 2024 Earnings Call Transcript

Zacks Investment Research

Genco Shipping & Trading (GNK) Tops Q1 Earnings and Revenue Estimates

Genco Shipping & Trading (GNK) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.06 per share a year ago.

Genco Shipping & Trading (GNK) Tops Q1 Earnings and Revenue Estimates

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