Genco Shipping & Trading (NYSE:GNK) Upgraded at StockNews.com

StockNews.com upgraded shares of Genco Shipping & Trading (NYSE:GNK) from a sell rating to a hold rating in a research report report published on Saturday morning.

Several other analysts have also issued reports on the stock. TheStreet lowered shares of Genco Shipping & Trading from a b rating to a c rating in a research report on Wednesday, November 15th. BTIG Research decreased their target price on shares of Genco Shipping & Trading from $22.00 to $20.00 and set a buy rating on the stock in a report on Friday, July 21st. Finally, Stifel Nicolaus decreased their target price on shares of Genco Shipping & Trading from $23.00 to $22.00 and set a buy rating on the stock in a report on Thursday, October 19th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $20.67.

Genco Shipping & Trading Stock Down 0.1 %

GNK opened at $14.35 on Friday. The company’s 50-day moving average price is $13.81 and its two-hundred day moving average price is $13.80. Genco Shipping & Trading has a twelve month low of $12.39 and a twelve month high of $19.84. The company has a quick ratio of 2.32, a current ratio of 3.08 and a debt-to-equity ratio of 0.15. The stock has a market cap of $610.43 million, a price-to-earnings ratio of 57.40 and a beta of 1.03.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings results on Wednesday, November 8th. The shipping company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). Genco Shipping & Trading had a net margin of 2.75% and a return on equity of 4.11%. The business had revenue of $83.36 million during the quarter, compared to the consensus estimate of $46.21 million. During the same period last year, the firm earned $1.00 EPS. The business’s revenue for the quarter was down 38.7% on a year-over-year basis. As a group, equities analysts expect that Genco Shipping & Trading will post 0.55 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Tuesday, November 21st. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 240.00%.

Hedge Funds Weigh In On Genco Shipping & Trading

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its holdings in shares of Genco Shipping & Trading by 17.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 21,996 shares of the shipping company’s stock worth $308,000 after buying an additional 3,329 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Genco Shipping & Trading by 78.4% in the 3rd quarter. AQR Capital Management LLC now owns 612,440 shares of the shipping company’s stock worth $8,568,000 after buying an additional 269,138 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Genco Shipping & Trading in the 3rd quarter worth $164,000. Tower Research Capital LLC TRC increased its holdings in shares of Genco Shipping & Trading by 288.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,410 shares of the shipping company’s stock worth $48,000 after buying an additional 2,532 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Genco Shipping & Trading in the 3rd quarter worth $361,000. Institutional investors own 52.75% of the company’s stock.

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 owns and operates dry bulk carrier vessels to transports iron ore, grains, coal, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.