B. Riley Has Negative Outlook for GNK FY2025 Earnings

Genco Shipping & Trading Limited (NYSE:GNK) – Equities researchers at B. Riley lowered their FY2025 earnings estimates for shares of Genco Shipping & Trading in a research note issued on Thursday, November 7th. B. Riley analyst L. Burke now anticipates that the shipping company will earn $1.43 per share for the year, down from their prior forecast of $1.72. The consensus estimate for Genco Shipping & Trading’s current full-year earnings is $1.71 per share.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $99.33 million for 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%. The business’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) EPS.

A number of other equities analysts also recently issued reports on GNK. Stifel Nicolaus downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and dropped their price objective for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft began coverage on Genco Shipping & Trading in a research report on Wednesday, September 4th. They issued a “buy” rating and a $22.00 price target for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 price objective on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.20.

Genco Shipping & Trading Stock Down 0.8 %

Shares of Genco Shipping & Trading stock opened at $17.65 on Monday. Genco Shipping & Trading has a 1 year low of $13.48 and a 1 year high of $23.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.94. The stock has a market cap of $754.71 million, a price-to-earnings ratio of 11.24, a PEG ratio of 0.29 and a beta of 0.98. The firm’s 50-day moving average is $17.34 and its two-hundred day moving average is $19.35.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Genco Shipping & Trading by 965.0% in the 1st quarter. BNP Paribas Financial Markets now owns 106,003 shares of the shipping company’s stock worth $2,155,000 after purchasing an additional 96,050 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Genco Shipping & Trading by 73.7% in the 1st quarter. SG Americas Securities LLC now owns 135,665 shares of the shipping company’s stock valued at $2,758,000 after acquiring an additional 57,547 shares during the period. Meeder Asset Management Inc. purchased a new position in Genco Shipping & Trading in the 1st quarter worth $361,000. Russell Investments Group Ltd. lifted its position in Genco Shipping & Trading by 7.7% during the 1st quarter. Russell Investments Group Ltd. now owns 87,157 shares of the shipping company’s stock worth $1,772,000 after acquiring an additional 6,253 shares during the period. Finally, Foundry Partners LLC purchased a new stake in Genco Shipping & Trading during the 1st quarter valued at about $3,812,000. 58.62% of the stock is owned by institutional investors and hedge funds.

Genco Shipping & Trading Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a $0.40 dividend. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.34. The ex-dividend date is Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.07%. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 86.62%.

About Genco Shipping & Trading

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.