Brokerages Set Genco Shipping & Trading Limited (NYSE:GNK) Price Target at $25.00

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $25.40.

GNK has been the subject of a number of recent analyst reports. Alliance Global Partners raised their price target on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday. B. Riley lifted their target price on shares of Genco Shipping & Trading from $27.00 to $30.00 and gave the company a “buy” rating in a report on Friday, May 10th. Jefferies Financial Group lifted their target price on shares of Genco Shipping & Trading from $26.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, May 9th. StockNews.com upgraded shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Finally, Stifel Nicolaus lifted their target price on shares of Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, April 19th.

Insiders Place Their Bets

In related news, Director Arthur L. Regan sold 1,400 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $22.86, for a total transaction of $32,004.00. Following the completion of the transaction, the director now owns 104,414 shares in the company, valued at $2,386,904.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On Genco Shipping & Trading

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in Genco Shipping & Trading by 1,632.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 2,139 shares in the last quarter. Teza Capital Management LLC acquired a new position in Genco Shipping & Trading in the third quarter valued at $164,000. AQR Capital Management LLC boosted its stake in Genco Shipping & Trading by 78.4% in the third quarter. AQR Capital Management LLC now owns 612,440 shares of the shipping company’s stock valued at $8,568,000 after acquiring an additional 269,138 shares in the last quarter. Aurora Investment Counsel boosted its stake in Genco Shipping & Trading by 10.2% in the third quarter. Aurora Investment Counsel now owns 76,634 shares of the shipping company’s stock valued at $1,072,000 after acquiring an additional 7,093 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Genco Shipping & Trading by 9.1% in the third quarter. American Century Companies Inc. now owns 681,087 shares of the shipping company’s stock valued at $9,528,000 after acquiring an additional 56,837 shares in the last quarter. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Up 1.9 %

Shares of NYSE GNK opened at $21.72 on Friday. The company has a 50 day simple moving average of $21.83 and a 200-day simple moving average of $19.70. The company has a market capitalization of $928.75 million, a P/E ratio of 362.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.72 and a quick ratio of 2.94. Genco Shipping & Trading has a 1 year low of $12.65 and a 1 year high of $23.43.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $117.44 million during the quarter, compared to the consensus estimate of $77.31 million. Genco Shipping & Trading had a net margin of 0.81% and a return on equity of 5.15%. The business’s revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 EPS. On average, equities research analysts predict that Genco Shipping & Trading will post 2.34 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd were paid a $0.42 dividend. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.68 annualized dividend and a dividend yield of 7.73%. Genco Shipping & Trading’s payout ratio is 2,800.00%.

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.