Genco Shipping & Trading Limited (NYSE:GNK) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $23.00.

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Jefferies Financial Group cut their target price on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, February 20th.

Insider Activity

In other news, insider Jesper Christensen sold 13,602 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $189,883.92. Following the completion of the transaction, the insider now owns 57,322 shares of the company's stock, valued at $800,215.12. The trade was a 19.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Peter George Allen sold 8,984 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $125,416.64. Following the completion of the transaction, the chief financial officer now directly owns 45,251 shares of the company's stock, valued at approximately $631,703.96. This represents a 16.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,812 shares of company stock valued at $402,216 over the last 90 days. Insiders own 2.50% of the company's stock.

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Institutional Investors Weigh In On Genco Shipping & Trading

A number of institutional investors have recently bought and sold shares of GNK. Townsend & Associates Inc increased its position in Genco Shipping & Trading by 2.7% during the third 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 during the last quarter. MQS Management LLC acquired a new position in Genco Shipping & Trading during the third quarter worth approximately $490,000. Royce & Associates LP increased its position in Genco Shipping & Trading by 43.1% during the third quarter. Royce & Associates LP now owns 482,687 shares of the shipping company's stock worth $9,412,000 after purchasing an additional 145,471 shares during the last quarter. Empowered Funds LLC increased its position in Genco Shipping & Trading by 5.4% during the third quarter. Empowered Funds LLC now owns 255,775 shares of the shipping company's stock worth $4,988,000 after purchasing an additional 12,998 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Genco Shipping & Trading by 37.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,039 shares of the shipping company's stock worth $839,000 after purchasing an additional 11,707 shares during the last quarter. 58.62% of the stock is currently owned by hedge funds and other institutional investors.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK traded up $0.05 during midday trading on Thursday, hitting $14.31. The company had a trading volume of 596,107 shares, compared to its average volume of 572,712. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading has a twelve month low of $13.51 and a twelve month high of $23.43. The business has a 50-day simple moving average of $14.34 and a two-hundred day simple moving average of $15.88. The firm has a market capitalization of $611.65 million, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 5.64 and a beta of 0.99.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The company had revenue of $67.95 million during the quarter, compared to analyst estimates of $67.36 million. Equities research analysts anticipate that Genco Shipping & Trading will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.39%. The ex-dividend date is Tuesday, March 11th. Genco Shipping & Trading's dividend payout ratio is presently 68.57%.

Genco Shipping & Trading Company Profile

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.