B. Riley Issues Negative Outlook for GNK Earnings

Genco Shipping & Trading Limited (NYSE:GNK - Free Report) - Stock analysts at B. Riley dropped their Q4 2024 earnings per share (EPS) estimates for shares of Genco Shipping & Trading in a research note issued on Thursday, November 7th. B. Riley analyst L. Burke now expects that the shipping company will post earnings per share of $0.34 for the quarter, down from their previous forecast of $0.48. The consensus estimate for Genco Shipping & Trading's current full-year earnings is $1.79 per share.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, hitting analysts' consensus estimates of $0.41. The firm had revenue of $99.33 million during the quarter, compared to the consensus estimate of $72.02 million. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The business's revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) EPS.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group restated a "buy" rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a report on Thursday. Deutsche Bank Aktiengesellschaft started coverage on Genco Shipping & Trading in a research report on Wednesday, September 4th. They set a "buy" rating and a $22.00 price target on the stock. Finally, Stifel Nicolaus cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating and decreased their target price for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.20.

Genco Shipping & Trading Stock Down 0.6 %

Genco Shipping & Trading stock traded down $0.10 during mid-day trading on Friday, reaching $17.45. The company's stock had a trading volume of 476,474 shares, compared to its average volume of 588,009. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.94 and a current ratio of 3.59. Genco Shipping & Trading has a 12 month low of $13.10 and a 12 month high of $23.43. The business's 50 day simple moving average is $17.32 and its 200 day simple moving average is $19.42. The company has a market capitalization of $746.16 million, a price-to-earnings ratio of 52.88, a price-to-earnings-growth ratio of 0.25 and a beta of 0.98.

Genco Shipping & Trading Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.17%. This is a boost from Genco Shipping & Trading's previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, November 18th. Genco Shipping & Trading's payout ratio is 412.12%.

Hedge Funds Weigh In On Genco Shipping & Trading

Several large investors have recently modified their holdings of GNK. Dimensional Fund Advisors LP boosted its stake in Genco Shipping & Trading by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,869,297 shares of the shipping company's stock valued at $61,145,000 after purchasing an additional 33,150 shares during the period. Vanguard Group Inc. boosted its position in shares of Genco Shipping & Trading by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,147,377 shares of the shipping company's stock valued at $23,326,000 after acquiring an additional 47,060 shares during the period. American Century Companies Inc. grew its stake in shares of Genco Shipping & Trading by 16.4% in the second quarter. American Century Companies Inc. now owns 1,096,741 shares of the shipping company's stock valued at $23,372,000 after acquiring an additional 154,339 shares in the last quarter. Renaissance Technologies LLC increased its position in Genco Shipping & Trading by 66.6% during the second quarter. Renaissance Technologies LLC now owns 1,050,030 shares of the shipping company's stock worth $22,376,000 after acquiring an additional 419,730 shares during the period. Finally, Townsend & Associates Inc raised its stake in Genco Shipping & Trading by 2.7% in the 3rd quarter. Townsend & Associates Inc now owns 1,048,858 shares of the shipping company's stock worth $20,453,000 after purchasing an additional 27,783 shares in the last quarter. 58.62% of the stock is owned by institutional investors.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.