Noble Financial analyst Poe Fratt assigned a Buy rating to Genco Shipping (Other OTC: GNK) today and set a price target of $23.50. The company’s shares opened today at $18.54, close to its 52-week high of $19.60.
Fratt has an average return of 4.3% when recommending Genco Shipping.
According to TipRanks.com, Fratt is ranked #1060 out of 4815 analysts.
Genco Shipping has an analyst consensus of Moderate Buy, with a price target consensus of $21.25.
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Based on Genco Shipping’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $55.81 million. In comparison, last year the company had a GAAP net loss of $15.6 million.
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Genco Shipping & Trading Ltd. operates as an international ship owning company. It engages in transporting iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes through the ownership and operation of drybulk carrier vessels.
