Genco Shipping & Trading Limited (NYSE:GNK - Free Report) - Equities researchers at B. Riley cut their Q4 2024 earnings per share estimates for Genco Shipping & Trading in a report issued on Tuesday, January 28th. B. Riley analyst L. Burke now anticipates that the shipping company will post earnings of $0.15 per share for the quarter, down from their prior estimate of $0.34. The consensus estimate for Genco Shipping & Trading's current full-year earnings is $1.75 per share. B. Riley also issued estimates for Genco Shipping & Trading's FY2025 earnings at $0.04 EPS.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The company had revenue of $99.33 million for the quarter, compared to analysts' expectations of $72.02 million. During the same period in the previous year, the company posted ($0.09) EPS. Genco Shipping & Trading's revenue was up 19.2% compared to the same quarter last year.
Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group reissued a "buy" rating and issued a $25.00 target price on shares of Genco Shipping & Trading in a report on Thursday, November 7th. StockNews.com downgraded shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, Stifel Nicolaus cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating and dropped their target price for the company from $26.00 to $17.00 in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Genco Shipping & Trading currently has an average rating of "Moderate Buy" and a consensus target price of $24.20.
Get Our Latest Stock Analysis on GNK
Genco Shipping & Trading Stock Performance
Shares of Genco Shipping & Trading stock traded down $0.34 on Thursday, reaching $14.12. 362,451 shares of the stock were exchanged, compared to its average volume of 407,277. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $603.86 million, a PE ratio of 8.99, a PEG ratio of 3.17 and a beta of 0.97. Genco Shipping & Trading has a 1-year low of $13.51 and a 1-year high of $23.43. The business has a fifty day moving average price of $14.63 and a two-hundred day moving average price of $16.61.
Genco Shipping & Trading Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.40 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.33%. This is a positive change from Genco Shipping & Trading's previous quarterly dividend of $0.34. Genco Shipping & Trading's dividend payout ratio is presently 101.91%.
Hedge Funds Weigh In On Genco Shipping & Trading
Hedge funds have recently bought and sold shares of the stock. Pekin Hardy Strauss Inc. purchased a new stake in shares of Genco Shipping & Trading in the third quarter valued at $812,000. Charles Schwab Investment Management Inc. lifted its holdings in Genco Shipping & Trading by 70.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company's stock valued at $10,345,000 after purchasing an additional 219,907 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Genco Shipping & Trading by 155.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company's stock worth $5,559,000 after purchasing an additional 173,270 shares during the last quarter. Barclays PLC grew its holdings in shares of Genco Shipping & Trading by 499.7% during the third quarter. Barclays PLC now owns 103,387 shares of the shipping company's stock worth $2,016,000 after buying an additional 86,147 shares in the last quarter. Finally, Petrus Trust Company LTA acquired a new position in shares of Genco Shipping & Trading in the third quarter valued at approximately $661,000. Hedge funds and other institutional investors own 58.62% of the company's stock.
About Genco Shipping & Trading
(
Get Free Report)
Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.
Further Reading
Before you consider Genco Shipping & Trading, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Genco Shipping & Trading wasn't on the list.
While Genco Shipping & Trading currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
