Genco Shipping & Trading Limited’s (NYSE:GNK) Share Price Matching Investor Opinion
When close to half the companies in the United States have price-to-earnings ratios (or “P/E’s”) below 19x, you may consider Genco Shipping & Trading Limited (NYSE:GNK) as a stock to avoid entirely with its 49.6x P/E ratio. Although, it’s not wise to just take the P/E at face value as there may be an explanation why it’s so lofty.
Recent times haven’t been advantageous for Genco Shipping & Trading as its earnings have been rising slower than most other companies. It might be that many expect the uninspiring earnings performance to recover significantly, which has kept the P/E from collapsing. You’d really hope so,…
