Genco Shipping & Trading Ltd Stock Research

Market Summary

USD15.63+0.23

Delayed

1.49%

GNK Alerts

1 major insider sales recently.
Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

GNK Stock Price

GNK RSI Chart

GNK Valuation

Market Cap

661.6M

Price/Earnings (Trailing)

4.17

Price/Sales (Trailing)

1.23

Price/Free Cashflow

3.56

GNK Price/Sales (Trailing)

GNK Profitability

Return on Equity

16.39%

Return on Assets

13.51%

Free Cashflow Yield

28.08%

GNK Fundamentals

GNK Revenue

Revenue (TTM)

536.9M

Revenue Y/Y

-30.72%

Revenue Q/Q

-6.62%

GNK Earnings

Earnings (TTM)

158.6M

Earnings Y/Y

-68.44%

Earnings Q/Q

-29.76%

Price Action

52 Week Range

11.3325.08

(Low)(High)

Last 7 days

-1.6%

Last 30 days

-15.4%

Last 90 days

0.5%

Trailing 12 Months

-24.2%

GNK Financial Health

Current Ratio

3.43

GNK Investor Care

Dividend Yield

17.53%

Dividend/Share (TTM)

2.74

Shares Dilution (1Y)

0.96%

Diluted EPS (TTM)

3.7

Peers (Alternatives to Genco Shipping & Trading)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
FDX	56.6B	94.1B	7.28%	-2.85%	16.99	0.6	5.07%	-32.20%
DAL	24.5B	50.6B	-14.64%	-15.22%	298.7	0.53	69.18%	370.71%
LUV	17.6B	23.8B	-11.82%	-32.54%	18.38	0.74	50.82%	-2.15%
UAL	13.5B	45.0B	-15.21%	-3.32%	18.35	0.3	82.49%	137.53%
AAL	8.9B	49.0B	-11.83%	-17.94%	70.29	0.18	63.88%	106.37%
MID-CAP
ALK	4.9B	9.6B	-19.76%	-31.84%	83.84	0.5	56.19%	-87.87%
KEX	4.0B	2.8B	-6.61%	-7.91%	32.67	1.43	23.95%	149.52%
AAWW	2.9B	4.5B	0.24%	22.01%	8.22	0.64	12.86%	-27.86%
ARCB	2.2B	5.3B	-7.27%	1.75%	7.4	0.41	34.66%	39.66%
JBLU	2.2B	9.2B	-18.29%	-53.60%	-6.05	0.24	51.67%	-98.90%
MATX	2.2B	4.3B	-8.19%	-50.08%	2.02	0.5	10.64%	14.72%
SMALL-CAP
SAVE	1.8B	5.1B	-11.87%	-22.57%	-3.3	0.36	56.88%	-17.26%
ATSG	1.5B	2.0B	-18.32%	-41.26%	7.31	0.71	17.94%	-14.19%
GNK	661.6M	536.9M	-15.38%	-24.20%	4.17	1.23	-1.86%	-12.87%
PANL	263.9M	699.7M	-8.73%	1.59%	3.32	0.38	-2.57%	18.15%

Financials for Genco Shipping & Trading

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-9.5%	537	593	613	596	547
S&GA Expenses	2.1%	26.00	25.00	25.00	24.00	24.00
EBITDA	-	87.00	-	-	-	-
EBITDA Margin	-	0.16*	-	-	-	-
EBT Margin	-	0.03*	-	-	-	-
Interest Expenses	-2.5%	9.00	9.00	11.00	13.00	15.00
Net Income	-28.3%	159	221	237	222	182
Net Income Margin	-20.8%	0.30*	0.37*	0.39*	0.37*	-
Free Cahsflow	-24.5%	186	246	265	267	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-2.6%	1,174	1,206	1,186	1,168	1,203
Current Assets	-13.9%	125	146	120	105	175
Cash Equivalents	-11.3%	58.00	66.00	45.00	43.00	115
Inventory	-32.9%	22.00	32.00	32.00	23.00	25.00
Net PPE	5.3%	9.00	8.00	8.00	8.00	7.00
Liabilities	-11.9%	206	233	236	233	286
Current Liabilities	-33.9%	37.00	55.00	49.00	38.00	42.00
LT Debt, Non Current	-4.8%	165	173	182	190	238
Shareholder's Equity	-0.4%	967	972	950	934	917
Retained Earnings	4.4%	-628	-656	-697	-745	-786
Additional Paid-In Capital	-2.0%	1,589	1,621	1,642	1,674	1,702
Accumulated Depreciation	11.5%	6.00	6.00	5.00	5.00	4.00
Shares Outstanding	0%	42.00	42.00	42.00	42.00	42.00
Minority Interest	20.5%	1.00	1.00	1.00	0.00	0.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-24.1%	189	250	268	270	231
Share Based Compensation	9.8%	3.00	3.00	3.00	2.00	2.00
Cashflow From Investing	-25.6%	-55.01	-43.79	-121	-134	-67.57
Cashflow From Financing	11.2%	-190	-214	-256	-250	-222
Dividend Payments	30.0%	116	89.00	72.00	41.00	13.00

Risks for GNK

What is the probability of a big loss on GNK?

88.8%

Probability that Genco Shipping & Trading stock will be more than 20% underwater in next one year

72.3%

Probability that Genco Shipping & Trading stock will be more than 30% underwater in next one year.

50.4%

Probability that Genco Shipping & Trading stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does GNK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Genco Shipping & Trading was unfortunately bought at previous high price.

Drawdowns

Returns for GNK

Cumulative Returns on GNK

-2.8%

10-Year Cumulative Returns

18.7%

7-Year Cumulative Returns

6.5%

5-Year Cumulative Returns

57.1%

3-Year Cumulative Returns

What are the long-term rolling returns for GNK?

FIve years rolling returns for Genco Shipping & Trading.

Annualized Returns

Which funds bought or sold GNK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	added	11.5	608,822	2,270,820	0.06%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	sold off	-100	-4,969,000	-	-%
2023-03-06	Rockefeller Capital Management L.P.	added	101	73,000	123,000	-%
2023-02-28	Voya Investment Management LLC	added	0.26	67,272	358,272	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-38,000	-	-%
2023-02-17	TRUIST FINANCIAL CORP	sold off	-100	-162,000	-	-%
2023-02-15	Kapstone Financial Advisors LLC	new	-	241,771	241,771	0.22%
2023-02-15	McIlrath & Eck, LLC	new	-	476	476	-%
2023-02-15	JANE STREET GROUP, LLC	reduced	-65.89	-270,095	193,905	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	unchanged	-	95,096	516,096	-%

Latest Funds Activity

Are funds buying GNK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own GNK

No. of Funds

Genco Shipping & Trading News

Schedule 13G FIlings of Genco Shipping & Trading

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 10, 2023	dimensional fund advisors lp	6.4%	2,710,989	SC 13G
Feb 06, 2023	blackrock inc.	7.2%	3,047,668	SC 13G/A
Oct 27, 2022	ccp ii cayman gp ltd.	4.82%	2,036,162	SC 13D/A
Sep 12, 2022	fmr llc	-	0	SC 13G/A
May 10, 2022	fmr llc	-	0	SC 13G/A
Feb 11, 2022	pilgrim global icav	-	0	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 04, 2022	blackrock inc.	5.7%	2,401,373	SC 13G
Aug 19, 2021	centerbridge credit partners, l.p.	0%	0	SC 13D/A
Aug 16, 2021	centerbridge credit partners, l.p.	0.41%	172,623	SC 13D/A

GNK Fair Value

Genco Shipping & Trading fair value in different scenarios

The table shows the Fair Value estimates for Genco Shipping & Trading for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	39.94 155.53%	57.25 266.28%	94.64 505.50%	142.10 809.15%	202.20 1193.67%
Current Inflation	37.13 137.56%	52.23 234.17%	84.17 438.52%	124.41 695.97%	175.32 1021.69%
Very High Inflation	33.64 115.23%	46.13 195.14%	71.77 359.18%	103.78 563.98%	144.23 822.78%

Historical Genco Shipping & Trading Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Genco Shipping & Trading

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 07, 2023	8-K	Current Report
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading
Feb 27, 2023	4	Insider Trading

Latest Insider Trading transactions for GNK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-27	WOBENSMITH JOHN C	sold	-274,765	19.3988	-14,164	ceo, president, and secretary
2023-02-27	Hughes Robert E	sold	-36,605	19.3883	-1,888	chief operations officer
2023-02-27	Zafolias Apostolos	sold	-43,943	19.3924	-2,266	chief financial officer
2023-02-25	REGAN ARTHUR L	acquired	-	-	9,443	-
2023-02-25	WOBENSMITH JOHN C	acquired	-	-	28,329	ceo, president, and secretary
2023-02-25	Zafolias Apostolos	acquired	-	-	4,722	chief financial officer
2023-02-25	Adamo Joseph	acquired	-	-	945	chief accounting officer
2023-02-25	Hughes Robert E	acquired	-	-	3,935	chief operations officer
2023-02-23	WOBENSMITH JOHN C	acquired	-	-	35,520	ceo, president, and secretary
2023-02-23	WOBENSMITH JOHN C	sold	-343,713	19.3532	-17,760	ceo, president, and secretary

About Genco Shipping & Trading

John C. Wobensmith

www.gencoshipping.com

1030

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns and operates dry bulk carrier vessels to 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. As of December 31, 2021, the company fleet consisted of 44 dry bulk carriers, including 17 Capesize, 15 Ultramax, and 12 Supramax with an aggregate capacity of approximately 4,636,000 deadweight tons. Genco Shipping & Trading Limited was incorporated in 2004 and is headquartered in New York, New York.

GNK Income Statement

2022-12-31

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Total revenues	$ 536,934	$ 547,129	$ 355,560
Operating expenses:
Voyage expenses	153,889	146,182	156,985
Vessel operating expenses	99,469	82,089	87,420
Charter hire expenses	27,130	36,370	10,307
General and administrative expenses (inclusive of nonvested stock amortization expense of $3,242, $2,267 and $2,026, respectively)	25,708	24,454	21,266
Technical management fees	3,310	5,612	6,961
Depreciation and amortization	60,190	56,231	65,168
Impairment of vessel assets	0	0	208,935
(Gain) loss on sale of vessels		(4,924)	1,855
Total operating expenses	369,696	346,014	558,897
Operating income (loss)	167,238	201,115	(203,337)
Other income (expense):
Other income (expense)	178	541	(851)
Interest income	1,042	154	1,028
Interest expense	(9,094)	(15,357)	(22,413)
Loss on debt extinguishment		(4,408)
Other expense, net	(7,874)	(19,070)	(22,236)
Net income (loss)	159,364	182,045	(225,573)
Less: Net income attributable to noncontrolling interest	788	38
Net income (loss) attributable to Genco Shipping & Trading Limited	$ 158,576	$ 182,007	$ (225,573)
Earnings (loss) per share-basic	$ 3.74	$ 4.33	$ (5.38)
Earnings (loss) per share-diluted	$ 3.70	$ 4.27	$ (5.38)
Weighted average common shares outstanding-basic	42,412,722	42,060,996	41,907,597
Weighted average common shares outstanding-diluted	42,915,496	42,588,871	41,907,597
Voyage
Revenues:
Total revenues	$ 536,934	$ 547,129	$ 355,560

GNK Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 58,142	$ 114,573
Restricted cash	5,643	5,643
Due from charterers, net of a reserve of $2,141 and $1,403, respectively	25,333	20,116
Prepaid expenses and other current assets	8,399	9,935
Inventories	21,601	24,563
Fair value of derivative instruments	6,312
Total current assets	125,430	174,830
Noncurrent assets:
Vessels, net of accumulated depreciation of $303,098 and $253,005, respectively	1,002,810	981,141
Deposits on vessels		18,543
Deferred drydock, net of accumulated amortization of $15,456 and $12,879 respectively	32,254	14,275
Fixed assets, net of accumulated depreciation and amortization of $6,254 and $3,984, respectively	8,556	7,237
Operating lease right-of-use assets	4,078	5,495
Restricted cash	315	315
Fair value of derivative instruments	423	1,166
Total noncurrent assets	1,048,436	1,028,172
Total assets	1,173,866	1,203,002
Current liabilities:
Accounts payable and accrued expenses	29,475	29,956
Deferred revenue	4,958	10,081
Current operating lease liabilities	2,107	1,858
Total current liabilities:	36,540	41,895
Noncurrent liabilities:
Long-term operating lease liabilities	4,096	6,203
Long-term debt, net of deferred financing costs of $6,079 and $7,771, respectively	164,921	238,229
Total noncurrent liabilities	169,017	244,432
Total liabilities	205,557	286,327
Commitments and contingencies (Note 15)
Equity:
Common stock, par value $0.01; 500,000,000 shares authorized; 42,327,181 and 41,924,597 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	423	419
Additional paid-in capital	1,588,777	1,702,166
Accumulated other comprehensive income	6,480	825
Accumulated deficit	(628,247)	(786,823)
Total Genco Shipping & Trading Limited shareholders' equity	967,433	916,587
Noncontrolling interest	876	88
Total equity	968,309	916,675
Total liabilities and equity	$ 1,173,866	$ 1,203,002