Jefferies Financial Group Has Lowered Expectations for Genco Shipping & Trading (NYSE:GNK) Stock Price

Genco Shipping & Trading (NYSE:GNK - Get Free Report) had its target price dropped by Jefferies Financial Group from $20.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the shipping company's stock. Jefferies Financial Group's price objective indicates a potential upside of 34.25% from the company's previous close.

GNK has been the subject of several other reports. StockNews.com cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Stifel Nicolaus cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating and cut their target price for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Genco Shipping & Trading currently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK traded down $0.56 during midday trading on Thursday, reaching $14.15. The stock had a trading volume of 906,676 shares, compared to its average volume of 468,246. The stock has a 50-day moving average of $14.30 and a 200-day moving average of $16.12. 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 $605.18 million, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 5.61 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 (NYSE:GNK - Get Free Report) last posted its earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.27). The company had revenue of $67.95 million for the quarter, compared to analysts' expectations of $67.36 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. As a group, research analysts anticipate that Genco Shipping & Trading will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Genco Shipping & Trading

Several institutional investors have recently bought and sold shares of GNK. Banque Transatlantique SA bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth about $28,000. R Squared Ltd bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth about $29,000. New Age Alpha Advisors LLC bought a new stake in shares of Genco Shipping & Trading in the 4th quarter worth about $56,000. Quarry LP lifted its holdings in shares of Genco Shipping & Trading by 535.8% in the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company's stock worth $83,000 after acquiring an additional 3,595 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Genco Shipping & Trading in the 3rd quarter worth about $202,000. 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.