Genco Shipping & Trading Ltd reports results for the quarter ended June 30 - Earnings Summary

• Genco Shipping & Trading Ltd GNK.N reported a quarterly adjusted loss of 14 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 46 cents. The mean expectation of nine analysts for the quarter was for a loss of 13 cents per share. Wall Street expected results to range from -19 cents to -8 cents per share.

• Revenue fell 24.4% to $80.94 million from a year ago; analysts expected $77.04 million.

• Genco Shipping & Trading Ltd's reported EPS for the quarter was a loss of 16 cents​.

• The company reported a quarterly loss of $6.8 million.

• Genco Shipping & Trading Ltd shares had risen by 28.3% this quarter and gained 20.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 311.9% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 1 "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 $19.00, about 11.7% above its last closing price of $16.77

This summary was machine generated from LSEG data August 7 at 06:32 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)