Q4 EPS Forecast for Genco Shipping & Trading Cut by Analyst

Genco Shipping & Trading Limited (NYSE:GNK) – B. Riley reduced their Q4 2024 earnings per share (EPS) estimates for shares of Genco Shipping & Trading in a research note issued on Tuesday, January 28th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $0.15 per share for the quarter, down from their prior estimate of $0.34. The consensus estimate for Genco Shipping & Trading’s current full-year earnings is $1.75 per share. B. Riley also issued estimates for Genco Shipping & Trading’s FY2025 earnings at $0.04 EPS.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $99.33 million during the quarter, compared to the consensus estimate of $72.02 million. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. Genco Shipping & Trading’s revenue was up 19.2% on a year-over-year basis. During the same period last year, the business posted ($0.09) earnings per share.

A number of other analysts also recently issued reports on GNK. Stifel Nicolaus downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. StockNews.com cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $25.00 price objective on shares of Genco Shipping & Trading in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Genco Shipping & Trading has an average rating of “Moderate Buy” and a consensus target price of $24.20.

Genco Shipping & Trading Trading Down 1.3 %

NYSE GNK opened at $14.46 on Thursday. The business’s fifty day moving average is $14.63 and its 200-day moving average is $16.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The stock has a market capitalization of $618.31 million, a price-to-earnings ratio of 9.21, a PEG ratio of 3.19 and a beta of 0.99. Genco Shipping & Trading has a one year low of $13.51 and a one year high of $23.43.

Genco Shipping & Trading Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a dividend of $0.40 per share. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a yield of 11.07%. Genco Shipping & Trading’s payout ratio is presently 101.91%.

Hedge Funds Weigh In On Genco Shipping & Trading

Large investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in Genco Shipping & Trading during the 2nd quarter worth about $3,106,000. Point72 Asset Management L.P. lifted its holdings in shares of Genco Shipping & Trading by 7.6% in the second quarter. Point72 Asset Management L.P. now owns 18,300 shares of the shipping company’s stock worth $390,000 after buying an additional 1,300 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Genco Shipping & Trading in the third quarter worth about $521,000. Inspire Investing LLC purchased a new position in Genco Shipping & Trading during the third quarter valued at approximately $413,000. Finally, Accurate Wealth Management LLC grew its stake in Genco Shipping & Trading by 19.2% during the third quarter. Accurate Wealth Management LLC now owns 34,363 shares of the shipping company’s stock valued at $670,000 after acquiring an additional 5,525 shares in the last quarter. 58.62% of the stock is owned by institutional investors.

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.