Equities Analysts Offer Predictions for GNK FY2025 Earnings

Genco Shipping & Trading Limited (NYSE:GNK - Free Report) - Equities research analysts at B. Riley cut their FY2025 EPS estimates for shares of Genco Shipping & Trading in a note issued to investors on Thursday, November 7th. B. Riley analyst L. Burke now forecasts that the shipping company will earn $1.43 per share for the year, down from their previous estimate of $1.72. The consensus estimate for Genco Shipping & Trading's current full-year earnings is $1.71 per share.

Several other research firms have also commented on GNK. Jefferies Financial Group reaffirmed a "buy" rating and set a $25.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genco Shipping & Trading in a research report on Wednesday, September 4th. They set a "buy" rating and a $22.00 price target for the company. Finally, Stifel Nicolaus cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating and dropped their price target for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.20.

Genco Shipping & Trading Stock Performance

Shares of GNK traded up $0.37 on Monday, reaching $17.80. The company's stock had a trading volume of 676,807 shares, compared to its average volume of 588,416. Genco Shipping & Trading has a 12-month low of $13.48 and a 12-month high of $23.43. The stock has a market capitalization of $761.13 million, a P/E ratio of 11.34, a PEG ratio of 0.29 and a beta of 0.98. The stock's 50 day simple moving average is $17.32 and its two-hundred day simple moving average is $19.40. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.94.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, meeting analysts' consensus estimates of $0.41. The business had revenue of $99.33 million during the quarter, compared to analyst estimates of $72.02 million. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. Genco Shipping & Trading's revenue was up 19.2% compared to the same quarter last year. During the same period last year, the business earned ($0.09) EPS.

Genco Shipping & Trading Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.99%. This is a positive change from Genco Shipping & Trading's previous quarterly dividend of $0.34. Genco Shipping & Trading's dividend payout ratio (DPR) is presently 86.62%.

Hedge Funds Weigh In On Genco Shipping & Trading

A number of large investors have recently modified their holdings of the company. CWM LLC grew its position in shares of Genco Shipping & Trading by 109.5% in the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company's stock worth $41,000 after acquiring an additional 998 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Genco Shipping & Trading in the second quarter valued at about $82,000. nVerses Capital LLC acquired a new stake in shares of Genco Shipping & Trading in the second quarter worth about $136,000. Point72 DIFC Ltd acquired a new position in shares of Genco Shipping & Trading during the 2nd quarter worth about $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Genco Shipping & Trading by 80.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,980 shares of the shipping company's stock valued at $191,000 after acquiring an additional 4,003 shares during the period. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

About Genco Shipping & Trading

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.