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...
  
  
  

*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.