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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