$44.57 Million in Sales Expected for Genco Shipping & Trading Limited (GNK) This Quarter

Equities analysts forecast that Genco Shipping & Trading Limited (NYSE:GNK) will announce $44.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Genco Shipping & Trading’s earnings, with the lowest sales estimate coming in at $37.58 million and the highest estimate coming in at $57.60 million. Genco Shipping & Trading reported sales of $86.16 million during the same quarter last year, which indicates a negative year over year growth rate of 48.3%. The business is expected to announce its next earnings report on Wednesday, August 14th.

On average, analysts expect that Genco Shipping & Trading will report full year sales of $222.28 million for the current financial year, with estimates ranging from $181.44 million to $256.00 million. For the next financial year, analysts anticipate that the business will report sales of $271.14 million, with estimates ranging from $210.46 million to $333.12 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Genco Shipping & Trading.

Genco Shipping & Trading (NYSE:GNK) last released its earnings results on Wednesday, May 8th. The shipping company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.05). The business had revenue of $50.44 million during the quarter, compared to analyst estimates of $52.90 million. Genco Shipping & Trading had a net margin of 3.92% and a return on equity of 1.51%.

Several research firms recently commented on GNK. Zacks Investment Research lowered Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Noble Financial reiterated a “buy” rating and issued a $18.00 target price on shares of Genco Shipping & Trading in a research note on Thursday, March 7th. ValuEngine lowered Genco Shipping & Trading from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. B. Riley set a $15.00 target price on Genco Shipping & Trading and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Maxim Group dropped their target price on Genco Shipping & Trading from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Genco Shipping & Trading has a consensus rating of “Hold” and an average target price of $14.70.

A number of large investors have recently made changes to their positions in GNK. Dimensional Fund Advisors LP increased its stake in Genco Shipping & Trading by 63.3% during the third quarter. Dimensional Fund Advisors LP now owns 743,300 shares of the shipping company’s stock worth $10,406,000 after acquiring an additional 288,019 shares during the last quarter. Morgan Stanley increased its stake in Genco Shipping & Trading by 209.7% during the third quarter. Morgan Stanley now owns 211,007 shares of the shipping company’s stock worth $2,954,000 after acquiring an additional 142,874 shares during the last quarter. Vanguard Group Inc. increased its stake in Genco Shipping & Trading by 7.4% during the third quarter. Vanguard Group Inc. now owns 239,344 shares of the shipping company’s stock worth $3,351,000 after acquiring an additional 16,585 shares during the last quarter. Vanguard Group Inc increased its stake in Genco Shipping & Trading by 7.4% during the third quarter. Vanguard Group Inc now owns 239,344 shares of the shipping company’s stock worth $3,351,000 after acquiring an additional 16,585 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at about $34,000. Institutional investors own 86.04% of the company’s stock.

Genco Shipping & Trading stock traded down $0.07 during trading on Friday, hitting $7.87. The company’s stock had a trading volume of 188,500 shares, compared to its average volume of 210,665. The firm has a market capitalization of $334.11 million, a P/E ratio of 12.44 and a beta of 0.63. Genco Shipping & Trading has a 1-year low of $6.83 and a 1-year high of $20.07. The company has a current ratio of 2.48, a quick ratio of 2.36 and a debt-to-equity ratio of 0.44.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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Earnings History and Estimates for Genco Shipping & Trading (NYSE:GNK)

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