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GNK

Genco Shipping & TradingNYSE:GNK Stock Report

Last Price

US$14.33

Market Cap

US$600.8m

7D

-12.9%

1Y

64.7%

Updated

23 Jan, 2022

Data

Company Financials +
GNK fundamental analysis
Snowflake Score
Valuation2/6
Future Growth1/6
Past Performance2/6
Financial Health5/6
Dividends0/6

GNK Stock Overview

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide.

Genco Shipping & Trading Competitors

Golden Ocean Group

NasdaqGS:GOGL

US$1.7b

Danaos

NYSE:DAC

US$1.6b

Costamare

NYSE:CMRE

US$1.5b

Eneti

NYSE:NETI

US$279.9m

Price History & Performance

Summary of all time highs, changes and price drops for Genco Shipping & Trading
Historical stock prices
Current Share PriceUS$14.33
52 Week HighUS$22.00
52 Week LowUS$7.35
Beta0.95
1 Month Change-6.16%
3 Month Change-19.04%
1 Year Change64.71%
3 Year Change74.12%
5 Year Change49.90%
Change since IPO-93.26%

Recent News & Updates

Oct 19

Valuing Genco Shipping Using The Baltic Dry Index

Genco Shipping reported the highest quarterly earnings per share since 2010. The company's bullish outlook is driven by its new value strategy centered around growth, dividends, and deleveraging. The Baltic Dry Index has a positive outlook for the remainder of 2021, which is an opportunity for investors to invest in undervalued dry bulk shipping companies.

Sep 21
Genco Shipping & Trading (NYSE:GNK) Is Experiencing Growth In Returns On Capital

Genco Shipping & Trading (NYSE:GNK) Is Experiencing Growth In Returns On Capital

What are the early trends we should look for to identify a stock that could multiply in value over the long term...

Aug 07
Analysts Just Made A Neat Upgrade To Their Genco Shipping & Trading Limited (NYSE:GNK) Forecasts

Analysts Just Made A Neat Upgrade To Their Genco Shipping & Trading Limited (NYSE:GNK) Forecasts

Shareholders in Genco Shipping & Trading Limited ( NYSE:GNK ) may be thrilled to learn that the analysts have just...

Shareholder Returns

GNKUS ShippingUS Market
7D-12.9%-6.3%-6.1%
1Y64.7%36.9%4.2%

Return vs Industry: GNK exceeded the US Shipping industry which returned 36.9% over the past year.

Return vs Market: GNK exceeded the US Market which returned 4.2% over the past year.

Price Volatility

Is GNK's price volatile compared to industry and market?
GNK volatility
GNK Average Weekly Movement6.9%
Shipping Industry Average Movement7.6%
Market Average Movement6.7%
10% most volatile stocks in US Market15.5%
10% least volatile stocks in US Market2.4%

Stable Share Price: GNK is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: GNK's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2004960John Wobensmithhttps://www.gencoshipping.com

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

Genco Shipping & Trading Fundamentals Summary

How do Genco Shipping & Trading's earnings and revenue compare to its market cap?
GNK fundamental statistics
Market CapUS$600.78m
Earnings (TTM)US$25.23m
Revenue (TTM)US$459.35m

23.8x

P/E Ratio

1.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GNK income statement (TTM)
RevenueUS$459.35m
Cost of RevenueUS$250.90m
Gross ProfitUS$208.44m
ExpensesUS$183.21m
EarningsUS$25.23m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.60
Gross Margin45.38%
Net Profit Margin5.49%
Debt/Equity Ratio35.7%

How did GNK perform over the long term?

See historical performance and comparison

Dividends

0.6%

Current Dividend Yield

53%

Payout Ratio

Valuation

Is Genco Shipping & Trading undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GNK ($14.33) is trading below our estimate of fair value ($152.33)

Significantly Below Fair Value: GNK is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: GNK is poor value based on its PE Ratio (23.8x) compared to the US Shipping industry average (5.4x).

PE vs Market: GNK is poor value based on its PE Ratio (23.8x) compared to the US market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: GNK is poor value based on its PEG Ratio (2.2x)


Price to Book Ratio

PB vs Industry: GNK's PB Ratio (0.7x) is in line with the US Shipping industry average.


Future Growth

How is Genco Shipping & Trading forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

10.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GNK's forecast earnings growth (10.7% per year) is above the savings rate (2%).

Earnings vs Market: GNK's earnings (10.7% per year) are forecast to grow slower than the US market (12.9% per year).

High Growth Earnings: GNK's earnings are forecast to grow, but not significantly.

Revenue vs Market: GNK's revenue is expected to decline over the next 3 years (-8.3% per year).

High Growth Revenue: GNK's revenue is forecast to decline over the next 3 years (-8.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GNK's Return on Equity is forecast to be low in 3 years time (18.5%).


Past Performance

How has Genco Shipping & Trading performed over the past 5 years?

13.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GNK has a large one-off loss of $80.5M impacting its September 30 2021 financial results.

Growing Profit Margin: GNK became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: GNK has become profitable over the past 5 years, growing earnings by 13.7% per year.

Accelerating Growth: GNK has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GNK has become profitable in the last year, making it difficult to compare its past year earnings growth to the Shipping industry (517.7%).


Return on Equity

High ROE: GNK's Return on Equity (3%) is considered low.


Financial Health

How is Genco Shipping & Trading's financial position?


Financial Position Analysis

Short Term Liabilities: GNK's short term assets ($142.5M) exceed its short term liabilities ($42.6M).

Long Term Liabilities: GNK's short term assets ($142.5M) do not cover its long term liabilities ($303.4M).


Debt to Equity History and Analysis

Debt Level: GNK's net debt to equity ratio (26.1%) is considered satisfactory.

Reducing Debt: GNK's debt to equity ratio has reduced from 58.1% to 35.7% over the past 5 years.

Debt Coverage: GNK's debt is well covered by operating cash flow (52.5%).

Interest Coverage: GNK's interest payments on its debt are well covered by EBIT (7x coverage).


Balance Sheet


Dividend

What is Genco Shipping & Trading current dividend yield, its reliability and sustainability?

0.56%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GNK's dividend (0.56%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.37%).

High Dividend: GNK's dividend (0.56%) is low compared to the top 25% of dividend payers in the US market (3.61%).


Stability and Growth of Payments

Stable Dividend: GNK is not paying a notable dividend for the US market, therefore no need to check if payments are stable.

Growing Dividend: GNK is not paying a notable dividend for the US market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: GNK is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of GNK's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.1yrs

Average management tenure


CEO

John Wobensmith (51 yo)

7.08yrs

Tenure

US$2,184,845

Compensation

Mr. John C. Wobensmith serves as Director at Genco Shipping & Trading Limited since May 27, 2021. He has been the President of Genco Shipping & Trading Limited since December 19, 2014, its Chief Executive...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD2.18M) is about average for companies of similar size in the US market ($USD2.39M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: GNK's management team is seasoned and experienced (7.1 years average tenure).


Board Members

Experienced Board: GNK's board of directors are considered experienced (5.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Genco Shipping & Trading Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Genco Shipping & Trading Limited
  • Ticker: GNK
  • Exchange: NYSE
  • Founded: 2004
  • Industry: Marine
  • Sector: Transportation
  • Implied Market Cap: US$600.779m
  • Shares outstanding: 41.92m
  • Website: https://www.gencoshipping.com

Number of Employees


Location

  • Genco Shipping & Trading Limited
  • 299 Park Avenue
  • 12th Floor
  • New York
  • New York
  • 10171
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/23 23:11
End of Day Share Price2022/01/21 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.