Genco Shipping & Trading Looks Attractive At 5.5x Forward Earnings [Seeking Alpha]
Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK)
Last genco shipping & trading limited ordinary shares new (marshall islands) earnings: 2/25 04:30 pm
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US:NYSE Investor Relations:
gencoshipping.com
Company Research
Source: Seeking Alpha
Summary Genco Shipping & Trading (NYSE: GNK ) is a dry bulk shipping company. Dry bulk shipping has gone through a monster bear market. This makes it an interesting place to look for value. A number of investment firms own large blocks of shares of Genco: Apollo Global Management (15.7%), Centerbridge Partners L.P. (30.4%) and Strategic Value Partners LLC (29.4%). The company issued a set of shares earlier this year at a higher price and expanded its fleet. Management also expressed the desire to sell ships. This seems contradictory, but shipping is an ongoing fight against time. The fleet has to be rejuvenated constantly. Executives manage that by buying and selling ships opportunistically. The CEO has investment banking experience, which is helpful if you are building a company. It does come with a price tag, as executive compensation seems high. It looks like the strategy is to scale up the business. If we are really coming out of the dry bulk bear market, that will work
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High impacting Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) news events
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GNK
News
- Genco Shipping & Trading Limited (NYSE: GNK) had its price target raised by analysts at Stifel Nicolaus from $22.00 to $23.00. They now have a "buy" rating on the stock.MarketBeat
- George Economou Files Definitive Proxy Statement and Sends Letter to Genco Shareholders [Yahoo! Finance]Yahoo! Finance
- George Economou Files Definitive Proxy Statement and Sends Letter to Genco ShareholdersBusiness Wire
- Genco Shipping & Trading Limited (NYSE: GNK) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Genco Shipping & Trading Limited Files Definitive Proxy Materials and Mails Letter to Shareholders [Yahoo! Finance]Yahoo! Finance
GNK
Earnings
- 2/21/24 - Beat
GNK
Sec Filings
- 4/22/24 - Form DEFA14A
- 4/18/24 - Form DEFA14A
- 4/18/24 - Form DFAN14A
- GNK's page on the SEC website