Genco Shipping & Trading Limited (NYSE:GNK) Receives $24.20 Average Target Price from Analysts

Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have received an average rating of "Moderate Buy" from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $24.20.

Several analysts have commented on the stock. Stifel Nicolaus cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating and lowered their target price for the stock from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, StockNews.com downgraded Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th.

Genco Shipping & Trading Price Performance

Shares of NYSE:GNK traded up $0.05 on Wednesday, hitting $14.64. The company had a trading volume of 335,716 shares, compared to its average volume of 407,746. The company has a market cap of $625.98 million, a PE ratio of 9.32, a PEG ratio of 0.23 and a beta of 0.99. The business has a 50 day moving average of $15.37 and a 200 day moving average of $17.21. Genco Shipping & Trading has a 52-week low of $13.51 and a 52-week high of $23.43. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08.

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 (EPS) for the quarter, hitting the consensus estimate of $0.41. The company had revenue of $99.33 million for the quarter, compared to analysts' expectations of $72.02 million. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The firm's revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. As a group, equities analysts anticipate that Genco Shipping & Trading will post 1.74 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.93%. This is an increase from Genco Shipping & Trading's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, November 18th. Genco Shipping & Trading's dividend payout ratio (DPR) is 101.91%.

Institutional Trading of Genco Shipping & Trading

Institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in Genco Shipping & Trading during the second quarter valued at approximately $82,000. Quarry LP lifted its holdings in shares of Genco Shipping & Trading by 535.8% during the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company's stock valued at $83,000 after acquiring an additional 3,595 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Genco Shipping & Trading during the 2nd quarter worth $178,000. Wealth Enhancement Advisory Services LLC increased its holdings in Genco Shipping & Trading by 26.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,190 shares of the shipping company's stock valued at $198,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Genco Shipping & Trading in the third quarter valued at about $202,000. Hedge funds and other institutional investors own 58.62% of the company's stock.

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.