Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has received an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $24.60.
Several equities research analysts have recently commented on GNK shares. Deutsche Bank Aktiengesellschaft began coverage on Genco Shipping & Trading in a report on Wednesday, September 4th. They set a "buy" rating and a $22.00 target price for the company. Stifel Nicolaus lowered shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating and decreased their target price for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd.
Check Out Our Latest Stock Report on GNK
Genco Shipping & Trading Stock Performance
Shares of Genco Shipping & Trading stock traded up $0.21 during trading on Friday, hitting $15.95. 443,507 shares of the stock were exchanged, compared to its average volume of 587,506. The stock has a market cap of $682.02 million, a PE ratio of 47.70, a P/E/G ratio of 0.25 and a beta of 0.95. The stock's fifty day moving average is $17.41 and its 200 day moving average is $19.58. Genco Shipping & Trading has a 12 month low of $12.65 and a 12 month high of $23.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.94 and a current ratio of 3.59.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $107.00 million during the quarter, compared to analyst estimates of $74.86 million. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. As a group, sell-side analysts anticipate that Genco Shipping & Trading will post 1.79 EPS for the current year.
Genco Shipping & Trading Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 8.53%. The ex-dividend date was Monday, August 19th. Genco Shipping & Trading's dividend payout ratio is currently 412.12%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of GNK. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Genco Shipping & Trading by 6,233.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,945 shares of the shipping company's stock worth $24,395,000 after purchasing an additional 1,181,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Genco Shipping & Trading by 66.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,050,030 shares of the shipping company's stock worth $22,376,000 after purchasing an additional 419,730 shares during the last quarter. Elevatus Welath Management bought a new stake in Genco Shipping & Trading during the first quarter worth about $5,850,000. Algert Global LLC raised its stake in shares of Genco Shipping & Trading by 694.2% in the second quarter. Algert Global LLC now owns 239,213 shares of the shipping company's stock valued at $5,098,000 after acquiring an additional 209,093 shares during the last quarter. Finally, Foundry Partners LLC bought a new position in Genco Shipping & Trading in the 1st quarter valued at $3,812,000. Institutional investors and hedge funds own 58.62% of the company's stock.
Genco Shipping & Trading Company Profile
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Get Free ReportGenco 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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