Genco Shipping & Trading Ltd reports results for the quarter ended in December - Earnings Summary

Genco Shipping & Trading

23/02/2024 03:04

* Genco Shipping & Trading Ltd  GNK.N  reported quarterly
adjusted
earnings of 11 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 67 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 42 cents per
share. Wall Street expected results to range from 28 cents to 60
cents per share.
    * Revenue fell 15.4% to $70.62 million from a year ago;
analysts
expected $72.69 million. 
    * Genco Shipping & Trading Ltd's reported EPS for the
quarter was
11 cents​.
    * The company reported quarterly net income of $4.94
million.
    * Genco Shipping & Trading Ltd shares had risen by 9.5% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 23.5%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the marine
freight &
logistics peer group is also "buy"

Wall Street's median 12-month price target for Genco Shipping &
Trading Ltd is $22.00 
This summary was machine generated from LSEG data February 23 at
03:04 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.42           0.11           Missed
 Sep. 30 2023      -0.11          -0.09          Beat
 Jun. 30 2023      0.24           0.27           Beat
 Mar. 31 2023      0.13           0.06           Missed