Genco Shipping & Trading Limited (NYSE:GNK) Receives $25.80 Consensus PT from Brokerages

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $25.80.

A number of brokerages have issued reports on GNK. Deutsche Bank Aktiengesellschaft began coverage on shares of Genco Shipping & Trading in a research report on Wednesday, September 4th. They set a “buy” rating and a $22.00 price objective on the stock. Alliance Global Partners boosted their price objective on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, July 1st.

Genco Shipping & Trading Stock Up 0.6 %

Shares of NYSE GNK opened at $17.24 on Thursday. The company has a quick ratio of 2.94, a current ratio of 3.59 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average is $18.43 and its 200 day moving average is $20.25. The company has a market cap of $737.18 million, a price-to-earnings ratio of 287.33, a PEG ratio of 0.24 and a beta of 0.95. Genco Shipping & Trading has a 52 week low of $12.65 and a 52 week high of $23.43.

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

Genco Shipping & Trading Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 7.89%. The ex-dividend date was Monday, August 19th. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 2,266.67%.

Institutional Trading of Genco Shipping & Trading

Hedge funds have recently modified their holdings of the business. CWM LLC boosted its stake in Genco Shipping & Trading by 109.5% in the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after purchasing an additional 998 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Genco Shipping & Trading in the 2nd quarter worth about $82,000. Mark Sheptoff Financial Planning LLC bought a new position in Genco Shipping & Trading in the 4th quarter worth about $126,000. nVerses Capital LLC bought a new position in Genco Shipping & Trading in the 2nd quarter worth about $136,000. Finally, Banque Cantonale Vaudoise boosted its stake in Genco Shipping & Trading by 236.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 8,536 shares of the shipping company’s stock worth $174,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors own 58.62% of the company’s stock.

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.