Genco Shipping & Trading (NYSE:GNK - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Jefferies Financial Group in a report issued on Thursday,Benzinga reports. They currently have a $25.00 price objective on the shipping company's stock. Jefferies Financial Group's target price points to a potential upside of 42.45% from the company's current price.
GNK has been the subject of several other reports. Stifel Nicolaus downgraded Genco Shipping & Trading from a "buy" rating to a "hold" rating and reduced their target price for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on Genco Shipping & Trading in a research note on Wednesday, September 4th. They issued a "buy" rating and a $22.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Genco Shipping & Trading has a consensus rating of "Moderate Buy" and a consensus price target of $24.20.
Read Our Latest Research Report on Genco Shipping & Trading
Genco Shipping & Trading Trading Up 4.7 %
GNK stock traded up $0.78 during mid-day trading on Thursday, reaching $17.55. The company's stock had a trading volume of 722,375 shares, compared to its average volume of 588,525. The company has a market cap of $750.44 million, a price-to-earnings ratio of 54.70, a price-to-earnings-growth ratio of 0.25 and a beta of 0.98. Genco Shipping & Trading has a 12 month low of $12.65 and a 12 month high of $23.43. The business's 50 day moving average price is $17.33 and its 200 day moving average price is $19.46. The company has a current ratio of 3.59, a quick ratio of 2.94 and a debt-to-equity ratio of 0.10.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.41. The company had revenue of $99.33 million for the quarter, compared to the consensus estimate of $72.02 million. Genco Shipping & Trading had a net margin of 3.59% and a return on equity of 6.11%. Genco Shipping & Trading's quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.09) EPS. On average, equities research analysts predict that Genco Shipping & Trading will post 1.79 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNK. CWM LLC grew its stake in Genco Shipping & Trading by 109.5% in the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company's stock valued at $41,000 after purchasing an additional 998 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Genco Shipping & Trading during the second quarter worth about $82,000. nVerses Capital LLC bought a new stake in Genco Shipping & Trading in the second quarter worth about $136,000. Point72 DIFC Ltd purchased a new position in Genco Shipping & Trading in the second quarter valued at about $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Genco Shipping & Trading by 80.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,980 shares of the shipping company's stock valued at $191,000 after acquiring an additional 4,003 shares during the period. 58.62% of the stock is currently owned by hedge funds and other institutional investors.
About Genco Shipping & Trading
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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.
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