.jpg "Genco Shipping (NYSE: GNK)")
Noble Financial analyst Poe Fratt maintained a Buy rating on Genco Shipping (GNK) yesterday and set a price target of $18. The company’s shares closed yesterday at $8.61, close to its 52-week low of $6.83.
According to TipRanks.com, Fratt is ranked #4177 out of 5216 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Genco Shipping with a $17.38 average price target, implying a 101.9% upside from current levels. In a report released yesterday, Maxim Group also maintained a Buy rating on the stock with a $20 price target.
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Based on Genco Shipping’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $18.28 million. In comparison, last year the company had a net profit of $2.57 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.
