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

Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have earned an average rating of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $24.20.

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a report on Tuesday. Stifel Nicolaus downgraded shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating and dropped their price objective for the company from $26.00 to $17.00 in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft began coverage on Genco Shipping & Trading in a research report on Wednesday, September 4th. They set a "buy" rating and a $22.00 price objective for the company. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $25.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Genco Shipping & Trading

Several large investors have recently added to or reduced their stakes in GNK. Renaissance Technologies LLC boosted its holdings in shares of Genco Shipping & Trading by 66.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,050,030 shares of the shipping company's stock worth $22,376,000 after purchasing an additional 419,730 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Genco Shipping & Trading by 70.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company's stock worth $10,345,000 after buying an additional 219,907 shares during the last quarter. Algert Global LLC lifted its position in Genco Shipping & Trading by 694.2% in the second quarter. Algert Global LLC now owns 239,213 shares of the shipping company's stock worth $5,098,000 after buying an additional 209,093 shares during the last quarter. American Century Companies Inc. boosted its stake in Genco Shipping & Trading by 16.4% during the second quarter. American Century Companies Inc. now owns 1,096,741 shares of the shipping company's stock worth $23,372,000 after buying an additional 154,339 shares during the period. Finally, Marshall Wace LLP bought a new position in Genco Shipping & Trading during the second quarter valued at $3,106,000. 58.62% of the stock is owned by institutional investors.

Genco Shipping & Trading Trading Up 0.7 %

Shares of Genco Shipping & Trading stock opened at $13.74 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The company has a fifty day moving average of $16.14 and a 200 day moving average of $18.12. The company has a market capitalization of $587.49 million, a P/E ratio of 8.75, a P/E/G ratio of 0.24 and a beta of 0.96. Genco Shipping & Trading has a fifty-two week low of $13.51 and a fifty-two week high of $23.43.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. The company had revenue of $99.33 million for the quarter, compared to the consensus estimate of $72.02 million. During the same quarter last year, the company earned ($0.09) EPS. The firm's quarterly revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts anticipate that Genco Shipping & Trading will post 1.74 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.40 dividend. 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.64%. Genco Shipping & Trading's dividend payout ratio (DPR) is presently 101.91%.

Genco Shipping & Trading Company Profile

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.