Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.57 and traded as low as $13.69. Genco Shipping & Trading shares last traded at $14.07, with a volume of 291,164 shares changing hands.
Analysts Set New Price Targets
Several analysts have recently commented on GNK shares. StockNews.com downgraded Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Jefferies Financial Group reaffirmed a "buy" rating and set a $25.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, Stifel Nicolaus lowered 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 research note on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.20.
Check Out Our Latest Analysis on Genco Shipping & Trading
Genco Shipping & Trading Trading Up 0.4 %
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 firm has a market capitalization of $601.61 million, a P/E ratio of 8.96, a PEG ratio of 0.23 and a beta of 0.99. The firm has a 50 day simple moving average of $15.54 and a two-hundred day simple moving average of $17.44.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, meeting analysts' consensus estimates of $0.41. The company had revenue of $99.33 million for the quarter, compared to analyst estimates of $72.02 million. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The firm's revenue was up 19.2% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. Equities research analysts forecast that Genco Shipping & Trading Limited will post 1.74 earnings per share for the current year.
Genco Shipping & Trading Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a $0.40 dividend. The ex-dividend date was Monday, November 18th. This is a positive change from Genco Shipping & Trading's previous quarterly dividend of $0.34. This represents a $1.60 annualized dividend and a dividend yield of 11.37%. Genco Shipping & Trading's dividend payout ratio is currently 101.91%.
Institutional Trading of Genco Shipping & Trading
A number of hedge funds have recently bought and sold shares of GNK. Renaissance Technologies LLC raised its stake in shares of Genco Shipping & Trading by 66.6% in the second quarter. Renaissance Technologies LLC now owns 1,050,030 shares of the shipping company's stock valued at $22,376,000 after buying an additional 419,730 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Genco Shipping & Trading by 70.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 530,523 shares of the shipping company's stock valued at $10,345,000 after acquiring an additional 219,907 shares during the period. Algert Global LLC lifted its holdings in Genco Shipping & Trading by 694.2% during the second quarter. Algert Global LLC now owns 239,213 shares of the shipping company's stock valued at $5,098,000 after purchasing an additional 209,093 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Genco Shipping & Trading by 155.0% during the third quarter. JPMorgan Chase & Co. now owns 285,091 shares of the shipping company's stock worth $5,559,000 after purchasing an additional 173,270 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Genco Shipping & Trading by 16.4% in the second quarter. American Century Companies Inc. now owns 1,096,741 shares of the shipping company's stock worth $23,372,000 after purchasing an additional 154,339 shares in the last quarter. 58.62% of the stock is currently owned by institutional investors.
Genco Shipping & Trading Company Profile
(
Get Free Report)
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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