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Research – Genco Shipping (GNK) – 4Q18 Results Surprise

Transportation
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Wednesday, March 06, 2019

Genco Shipping & Trading Limited (GNK)

4Q2018 results above expectations and positioned for rough weather ahead.

Genco Shipping &
Trading Limited, incorporated on September 27, 2004, transports iron ore, coal,
grain, steel products and other drybulk cargoes along shipping routes through
the ownership and operation of drybulk carrier vessels. The Company is engaged
in the ocean transportation of drybulk cargoes around the world through the
ownership and operation of drybulk carrier vessels. 

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

  • 4Q2018 EBITDA ahead
    of expectations.
     4Q2018 EBITDA of $42.4 million was ahead of
    expectations due to higher TCE rates. Adjusted 4Q2018 EPS of $0.39 was the
    fifth profitable quarter in the last six years.
  • Adjusting
    estimates to reflect 1Q2019 forward cover, market volatility and
    updated dry dock schedule.
     To include forward booking data, asset sales and
    updated dry dock info, movi…




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*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.

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