Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have been given an average rating of "Buy" by the six brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $23.00.
A number of research analysts have commented on GNK shares. Jefferies Financial Group reduced their price target on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Pareto Securities upgraded shares of Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st.
Get Our Latest Report on GNK
Genco Shipping & Trading Stock Performance
NYSE GNK opened at $12.88 on Friday. Genco Shipping & Trading has a 52-week low of $11.20 and a 52-week high of $23.43. The company has a fifty day moving average of $13.37 and a 200-day moving average of $14.72. The company has a market capitalization of $553.31 million, a P/E ratio of 7.36, a P/E/G ratio of 5.64 and a beta of 0.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.27). The firm had revenue of $67.95 million for the quarter, compared to the consensus estimate of $67.36 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. As a group, equities research analysts predict that Genco Shipping & Trading will post 0.48 EPS for the current fiscal year.
Genco Shipping & Trading Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.32%. The ex-dividend date of this dividend was Tuesday, March 11th. Genco Shipping & Trading's payout ratio is 68.57%.
Insider Buying and Selling at Genco Shipping & Trading
In related news, CAO Joseph Adamo sold 6,226 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $86,914.96. Following the completion of the transaction, the chief accounting officer now owns 26,829 shares in the company, valued at $374,532.84. This represents a 18.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jesper Christensen sold 13,602 shares of Genco Shipping & Trading stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the sale, the insider now owns 57,322 shares in the company, valued at approximately $800,215.12. This trade represents a 19.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,812 shares of company stock valued at $402,216 in the last quarter. Company insiders own 2.08% of the company's stock.
Institutional Investors Weigh In On Genco Shipping & Trading
Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA purchased a new stake in Genco Shipping & Trading in the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in shares of Genco Shipping & Trading in the 4th quarter valued at approximately $29,000. New Age Alpha Advisors LLC bought a new stake in shares of Genco Shipping & Trading during the fourth quarter valued at approximately $56,000. GAMMA Investing LLC grew its stake in Genco Shipping & Trading by 1,119.1% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company's stock worth $60,000 after purchasing an additional 4,096 shares during the period. Finally, Randolph Co Inc bought a new position in Genco Shipping & Trading in the first quarter worth $134,000. 58.62% of the stock is owned by hedge funds and other institutional investors.
Genco Shipping & Trading Company Profile
(
Get Free ReportGenco 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.
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