Genco Shipping & Trading (NYSE:GNK) Cut to Hold at StockNews.com

Genco Shipping & Trading (NYSE:GNK - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.

GNK has been the topic of a number of other research reports. Jefferies Financial Group restated a "buy" rating and issued a $25.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Genco Shipping & Trading in a report on Wednesday, September 4th. They issued a "buy" rating and a $22.00 target price on the stock. Finally, Stifel Nicolaus downgraded Genco Shipping & Trading from a "buy" rating to a "hold" rating and decreased their price target for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.20.

Genco Shipping & Trading Trading Down 4.0 %

NYSE GNK traded down $0.58 on Tuesday, reaching $14.03. The company had a trading volume of 649,451 shares, compared to its average volume of 577,718. The firm has a market cap of $599.89 million, a price-to-earnings ratio of 8.91, a P/E/G ratio of 0.24 and a beta of 0.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. Genco Shipping & Trading has a fifty-two week low of $13.91 and a fifty-two week high of $23.43. The business has a 50 day moving average of $16.47 and a two-hundred day moving average of $18.30.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GNK. CWM LLC raised its holdings in shares of Genco Shipping & Trading by 109.5% in the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company's stock worth $41,000 after purchasing an additional 998 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Genco Shipping & Trading in the second quarter valued at $82,000. Quarry LP lifted its position 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 buying an additional 3,595 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Genco Shipping & Trading during the 2nd quarter worth $136,000. Finally, Point72 DIFC Ltd purchased a new stake in Genco Shipping & Trading in the 2nd quarter worth about $178,000. 58.62% of the stock is owned by institutional investors.

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.