Genco Shipping & Trading (NYSE:GNK - Get Free Report) issued its quarterly earnings results on Wednesday. The shipping company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.27), Zacks reports. 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 the consensus estimate of $67.36 million.
Genco Shipping & Trading Stock Performance
Shares of Genco Shipping & Trading stock traded down $0.56 during trading hours on Friday, hitting $14.15. 906,676 shares of the company's stock traded hands, compared to its average volume of 459,828. The company has a fifty day simple moving average of $14.30 and a 200-day simple moving average of $16.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The stock has a market capitalization of $605.18 million, a price-to-earnings ratio of 8.09, a PEG ratio of 5.64 and a beta of 0.97. Genco Shipping & Trading has a 12-month low of $13.51 and a 12-month high of $23.43.
Genco Shipping & Trading Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th will be paid a $0.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 8.48%. Genco Shipping & Trading's dividend payout ratio (DPR) is presently 91.43%.
Wall Street Analysts Forecast Growth
GNK has been the topic of several recent research reports. Jefferies Financial Group cut their price target on Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday. StockNews.com lowered shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.
Check Out Our Latest Stock Analysis on GNK
Genco Shipping & Trading Company Profile
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Get Free Report)
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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