Genco Shipping & Trading (NYSE:GNK) Hits New 1-Year Low - What's Next?

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $13.50 and last traded at $13.54, with a volume of 39785 shares trading hands. The stock had previously closed at $13.52.

Analyst Ratings Changes

Several equities analysts have weighed in on GNK shares. Jefferies Financial Group lowered their price objective 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. StockNews.com lowered Genco Shipping & Trading from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Genco Shipping & Trading Trading Down 1.0 %

The business's 50-day simple moving average is $14.34 and its 200-day simple moving average is $15.84. 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 market capitalization of $572.10 million, a price-to-earnings ratio of 7.64, a P/E/G ratio of 5.64 and a beta of 0.99.

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Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $67.36 million. On average, research analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.97%. The ex-dividend date is Tuesday, March 11th. Genco Shipping & Trading's payout ratio is 68.57%.

Insider Transactions at Genco Shipping & Trading

In other Genco Shipping & Trading news, insider Jesper Christensen sold 13,602 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $189,883.92. Following the transaction, the insider now owns 57,322 shares in the company, valued at approximately $800,215.12. This represents a 19.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter George Allen sold 8,984 shares of Genco Shipping & Trading stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $125,416.64. Following the transaction, the chief financial officer now owns 45,251 shares of the company's stock, valued at $631,703.96. This represents a 16.56 % 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. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Genco Shipping & Trading

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNK. Dimensional Fund Advisors LP increased its holdings in Genco Shipping & Trading by 0.4% in the 4th 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. lifted its stake in Genco Shipping & Trading by 8.9% during the fourth 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 boosted its stake in Genco Shipping & Trading by 1.0% in the third quarter. State Street Corp now owns 1,190,467 shares of the shipping company's stock worth $23,214,000 after buying an additional 12,001 shares in the last quarter. Townsend & Associates Inc boosted its stake in shares of 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 purchasing an additional 23,101 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Genco Shipping & Trading by 1.0% during 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. Hedge funds and other institutional investors own 58.62% of the company's stock.

Genco Shipping & Trading Company Profile

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.

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