DNB Carnegie Downgrades Genco Shipping & Trading Limited (GNK) to Hold from Buy

Genco Shipping & Trading Limited (NYSE:GNK) is one of the best shipping and container stocks to invest in now. On July 7, DNB Carnegie downgraded Genco Shipping & Trading Limited (NYSE:GNK) to Hold from Buy with a $14.90 price target.

Genco Shipping & Trading Limited (NYSE:GNK) reported a net loss of $11.9 million in fiscal Q1 2025, which translates to basic and diluted net loss per share of $0.28. The company also reported an EBITDA of $7.9 million and voyage revenues of $71.3 million.

Genco Shipping & Trading Limited (NYSE:GNK) declared a dividend of $0.15 per share for Q1 2025, representing its 23rd consecutive quarterly dividend. Building on its dividend strategy, the company announced a $50 million share repurchase program.

Genco Shipping & Trading Limited (NYSE:GNK) is an international ship owning company that transports coal, iron ore, steel products, bauxite, and other drybulk cargoes. Its operations are divided into the Major Bulk and Minor Bulk segments. The Major Bulk segment comprises Capesize vessels, while the Minor Bulk segment focuses on Ultramax and Supramax vessels.

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Disclosure: None. This article is originally published at Insider Monkey.