Genco Shipping & Trading Limited (NYSE:GNK)
A New York City-based company that transports iron ore, coal, grain, steel products and other drybulk cargoes along worldwide shipping routes.
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Recs
downeyschips
(29.88)
Submitted: 3/26/2013 10:52:56 AM :
Start Price:
$3.14
GNK Score:
-56.32
shipping - dry bulk play
Recs
imacg5
(83.03)
Submitted: 1/11/2013 11:11:30 AM :
Start Price:
$4.03
GNK Score:
+73.74
Same as last year the market anticipates a bottom in the BDI just because rates have a slight reprieve.
But charter rates are still well below break even and there are another 1600 more ships to be delivered over the next two years.
GNK is still losing money, no recovery in sight.
Recs
fjmok
(55.12)
Submitted: 12/6/2012 3:07:49 PM :
Start Price:
$2.69
GNK Score:
-58.00
Short-term may get worse; long-term this company will do well in dry bulk shipping
Recs
abitare
(99.38)
Submitted: 7/31/2012 4:30:45 PM :
Start Price:
$2.37
GNK Score:
+54.02
Shipping the 2007 pile on, pump and dump. Most of these "shippers" will return to single digits or $0 as the story wears thin,the debt load becomes apparent and money moves to the "newest" pump and dump - solar and alternative energy.
Recs
shahart
(56.77)
Submitted: 5/10/2012 4:41:06 AM :
Start Price:
$4.11
GNK Score:
-82.97
True, this company has huge debt. I don't like that one bit. It also has quite a poor ROA. I don't like that either. Yet, this company makes money, after intereset expense, and after taxes, it still earned money in each and every one of the five last years, so its got to be worth something.
In the last 5 years, the average net profit was a bit more than 100 M yearly.
So, its got to be worth something. Its got to be worth more than the current 155 M it is offered in.
So no, it is not an excellent business. But it still worth something, isn't it ?
Recs
Elpee
(< 20)
Submitted: 1/6/2012 8:31:20 AM :
Start Price:
$6.69
GNK Score:
-106.15
GNK Broke through a massive bear channel dating back from November 2009 on the weekly time frame. Looks like the top of the channel from late December 2011 to now is holding as support. Its net profit margin isn't as great as DRYS but only time can tell if this stock improves. It has potential from a technical standpoint and looks to be attempting to form a base.
Recs
ly007007
(58.30)
Submitted: 9/17/2011 9:09:16 PM :
Start Price:
$7.75
GNK Score:
-118.89
GNK will rebound once macro condition improves and shipping rate rises, given its high operational and financial leverage. A classic value play
Recs
RedScourge
(66.00)
Submitted: 8/25/2011 6:05:06 PM :
Start Price:
$5.85
GNK Score:
-116.78
CAPS Stock Screener says Price / Book is less than 1.
Recs
starmannate
(97.80)
Submitted: 8/4/2011 11:34:41 AM :
Start Price:
$5.01
GNK Score:
-103.95
Shipping will recover at some point. Trying to catch the knife here....
Recs
AKHENATENX
(33.42)
Submitted: 7/24/2011 1:13:29 PM :
Start Price:
$6.36
GNK Score:
-99.92
Multiyear low, Looks like a double bottom.
Recs
TheRadical
(< 20)
Submitted: 6/10/2011 2:05:09 PM :
Start Price:
$6.50
GNK Score:
-105.70
Very cheap, but all it does is make money. I'll take my chances
Recs
excellx
(< 20)
Submitted: 4/23/2011 3:51:54 PM :
Start Price:
$8.36
GNK Score:
-105.62
http://fsin.weebly.com/ mentioned this stock, noting how the price is 400% below book value, and a recovery in the BDI well help this stock because it doesn't do long term contracts
Recs
iros532
(< 20)
Submitted: 4/14/2011 5:06:48 PM :
Start Price:
$9.95
GNK Score:
-110.48
GNK continues to provide good earnings. Price stalled druing crisis and due to credit-related conditions which prevented GNK to give dividends. The moment the baltic index recovers and GNK starts giving dividends, yields will be over 20%. Margin of safety now is around 70%
Recs
bmw2009
(< 20)
Submitted: 4/9/2011 6:45:50 PM :
Start Price:
$10.44
GNK Score:
-110.10
GNK is solid from an operating standpoint and is now committed to paying down debt after completing their spate of ship acquisitions.
Recs
Recs
jjensen001
(< 20)
Submitted: 4/4/2011 6:06:29 PM :
Start Price:
$10.62
GNK Score:
-110.36
Dry Bulk Shipping is down... great time to buy.
Recs
ahmccaffrey
(< 20)
Submitted: 3/4/2011 10:58:05 PM :
Start Price:
$16.45
GNK Score:
-128.64
As long as their business management continues to be solid, they will enjoy great growth. Shipping high demand commodities, good roots internationally. Global Shipping is a hard market to get into, mucho capital, GNK has good thing going.
Recs
unlearned
(< 20)
Submitted: 2/17/2011 12:42:06 AM :
Start Price:
$12.80
GNK Score:
-112.51
Shipping is a big thing for every market. This company is trading at a discount to book value and has strong margins and a small debt load. As the economy recovers this company will be poised to make a large move.
Recs
NZAllBlacks
(73.07)
Submitted: 2/8/2011 10:32:44 PM :
Start Price:
$11.92
GNK Score:
-112.88
Very low P/E and with the bounce back in the US economy, expect trade to pick up. Low points are that it is dependent upon the BDI and has lots of debt - am backing this though as it is not a sinking ship. That pun was terrible - sorry!
Recs
Munchies101
(99.44)
Submitted: 2/8/2011 5:00:03 PM :
Start Price:
$14.74
GNK Score:
-129.35
Owner of GNK for a while now, and would just like to add my .02. This stock is definitely not for the faint of heart, as its price could go through all sorts of loops before we see any rebound. What you have to remember is that although this P/E is low, it’s priced to the fact that almost all of its ships in 2011 - 2012 will be subject to the spot market. In order for this company to keep its creditors happy, they have to keep a certain ratio of revenue to their liabilities, and unless we see a jump in the BDI this will probably not be happening.
Let’s say the BDI doesn't rebound, what this means is that we are going to see dilution, plain and simple. Now all of the sudden, because of dilution, loss of revenue, and the debt moving into the stratosphere, all those pretty ratios we are seeing are going to start looking like a cat that got run over by a semi; not good.
I do own this stock for one good reason however; this stock just looks so crappy from a short term view I think many investors are forgetting the long term and have mispriced this stock. The BDI will get better, guaranteed. We will probably see dilution, and the debt edging higher, and a PE that moves closer to the 10 - 20 mark in the future, but given 2-5 yrs this stock will outperform and be a 3-4 bagger. It is not likely the BDI will move much lower, the cost of running the ship exceeds the spot rate right now. Eventually companies will just start docking their ships, and wait. If you believe in an economic recovery, you have to believe in a future where dry bulk exists.
Buy this stock; forget about it for at least 3 yrs.
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