Genco Shipping & Trading Limited (NYSE:GNK) Given Average Recommendation of "Buy" by Brokerages

Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six ratings firms that are presently covering the company, MarketBeat reports. One investment 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 12-month price objective among brokerages that have issued a report on the stock in the last year is $23.00.

Several analysts have recently issued reports on GNK shares. StockNews.com lowered shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Jefferies Financial Group lowered their price target on Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Finally, Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday.

Genco Shipping & Trading Stock Performance

Shares of NYSE GNK traded down $0.84 during midday trading on Monday, reaching $12.70. 1,314,459 shares of the stock were exchanged, compared to its average volume of 536,131. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. The firm has a market cap of $542.81 million, a price-to-earnings ratio of 7.25, a PEG ratio of 5.64 and a beta of 0.99. The firm has a 50-day simple moving average of $14.10 and a two-hundred day simple moving average of $15.42. Genco Shipping & Trading has a twelve month low of $12.62 and a twelve month high of $23.43.

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Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $67.95 million for the quarter, compared to analyst estimates of $67.36 million. As a group, analysts anticipate that Genco Shipping & Trading will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were given a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.45%. Genco Shipping & Trading's dividend payout ratio (DPR) is presently 68.57%.

Insider Activity at Genco Shipping & Trading

In related news, CFO Peter George Allen sold 8,984 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $125,416.64. Following the completion of the sale, the chief financial officer now owns 45,251 shares of the company's stock, valued at approximately $631,703.96. This represents a 16.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jesper Christensen sold 13,602 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $189,883.92. Following the sale, the insider now owns 57,322 shares of the company's stock, valued at approximately $800,215.12. The trade was a 19.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,812 shares of company stock valued at $402,216. 2.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Genco Shipping & Trading by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,838,759 shares of the shipping company's stock worth $39,572,000 after acquiring an additional 10,193 shares during the last quarter. American Century Companies Inc. increased its position in shares of Genco Shipping & Trading by 8.9% during the 4th quarter. American Century Companies Inc. now owns 1,361,597 shares of the shipping company's stock worth $18,981,000 after purchasing an additional 111,564 shares during the last quarter. State Street Corp increased its position in shares of Genco Shipping & Trading by 1.0% during the 3rd quarter. State Street Corp now owns 1,190,467 shares of the shipping company's stock worth $23,214,000 after purchasing an additional 12,001 shares during the last quarter. Townsend & Associates Inc raised its holdings in Genco Shipping & Trading by 2.2% in the 4th quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company's stock valued at $15,318,000 after buying an additional 23,101 shares during the period. Finally, Geode Capital Management LLC lifted its position in Genco Shipping & Trading by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 990,357 shares of the shipping company's stock valued at $13,809,000 after buying an additional 10,260 shares during the last quarter. 58.62% of the stock is currently owned by institutional investors and hedge funds.

About Genco Shipping & Trading

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.