Genco Shipping & Trading (NYSE:GNK) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Genco Shipping & Trading (NYSE:GNK) in a research report issued on Wednesday, Benzinga reports. The firm set a “buy” rating and a $22.00 price target on the shipping company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 30.33% from the company’s current price.

GNK has been the subject of a number of other reports. StockNews.com upgraded Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Jefferies Financial Group raised their price objective on shares of Genco Shipping & Trading from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Alliance Global Partners lifted their target price on Genco Shipping & Trading from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, B. Riley upped their price objective on shares of Genco Shipping & Trading from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.80.

Genco Shipping & Trading Stock Down 0.1 %

NYSE:GNK opened at $16.88 on Wednesday. Genco Shipping & Trading has a one year low of $12.65 and a one year high of $23.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.59 and a quick ratio of 2.94. The company has a market cap of $721.76 million, a PE ratio of 281.33 and a beta of 0.96. The firm’s 50 day simple moving average is $19.10 and its 200 day simple moving average is $20.35.

Genco Shipping & Trading (NYSE:GNK) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Genco Shipping & Trading had a net margin of 3.59% and a return on equity of 6.11%. The business had revenue of $107.00 million during the quarter, compared to the consensus estimate of $74.86 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, research analysts anticipate that Genco Shipping & Trading will post 2.1 earnings per share for the current year.

Institutional Trading of Genco Shipping & Trading

Several large investors have recently modified their holdings of GNK. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Genco Shipping & Trading by 6,233.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,945 shares of the shipping company’s stock valued at $24,395,000 after buying an additional 1,181,000 shares during the period. Renaissance Technologies LLC increased its position in shares of Genco Shipping & Trading by 66.6% during 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. Elevatus Welath Management purchased a new stake in Genco Shipping & Trading in the first quarter worth about $5,850,000. Algert Global LLC boosted its position in Genco Shipping & Trading by 694.2% during the 2nd 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 in the last quarter. Finally, Foundry Partners LLC bought a new position in shares of Genco Shipping & Trading in the 1st quarter worth approximately $3,812,000. 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.