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

Genco Shipping & Trading

08/08/2024 01:03

* Genco Shipping & Trading Ltd  GNK.N  reported quarterly
adjusted
earnings of 46 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 27 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 45 cents per
share. Wall Street expected results to range from 37 cents to 61
cents per share.
    * Revenue rose 76.5% to $107.05 million from a year ago;
analysts
expected $93.59 million. 
    * Genco Shipping & Trading Ltd's reported EPS for the
quarter was
54 cents​.
    * The company reported quarterly net income of $23.47
million.
    * Genco Shipping & Trading Ltd shares had fallen by 16.0%
this
quarter and gained 7.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.8%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 3
"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 $27.00 
This summary was machine generated from LSEG data August 8 at
12:03 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
 Jun. 30 2024      0.45           0.46           Beat
 Mar. 31 2024      0.52           0.49           Missed
 Dec. 31 2023      0.42           0.43           Beat
 Sep. 30 2023      -0.11          -0.09          Beat