Genco Shipping & Trading Limited (NYSE:GNK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $25.40.

Several brokerages recently commented on GNK. Alliance Global Partners boosted their price target on Genco Shipping & Trading from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com raised shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Jefferies Financial Group lifted their price target on shares of Genco Shipping & Trading from $26.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus boosted their price target on shares of Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, B. Riley raised their price objective on shares of Genco Shipping & Trading from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, May 10th.

Insider Activity

In other news, Director Arthur L. Regan sold 1,400 shares of Genco Shipping & Trading stock in a transaction on Monday, May 13th. The stock was sold at an average price of $22.86, for a total value of $32,004.00. Following the completion of the sale, the director now directly owns 104,414 shares of the company’s stock, valued at approximately $2,386,904.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Genco Shipping & Trading

Institutional investors have recently modified their holdings of the business. Gladius Capital Management LP bought a new position in Genco Shipping & Trading in the fourth quarter valued at approximately $37,000. PNC Financial Services Group Inc. boosted its position in shares of Genco Shipping & Trading by 1,632.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock worth $32,000 after purchasing an additional 2,139 shares during the last quarter. CWM LLC grew its stake in shares of Genco Shipping & Trading by 550.0% during the fourth quarter. CWM LLC now owns 3,796 shares of the shipping company’s stock worth $63,000 after purchasing an additional 3,212 shares during the period. Mark Sheptoff Financial Planning LLC bought a new stake in Genco Shipping & Trading in the fourth quarter valued at about $126,000. Finally, Banque Cantonale Vaudoise lifted its stake in Genco Shipping & Trading by 236.6% in the first quarter. Banque Cantonale Vaudoise now owns 8,536 shares of the shipping company’s stock valued at $174,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Price Performance

Shares of Genco Shipping & Trading stock opened at $22.06 on Friday. The firm has a market cap of $943.29 million, a P/E ratio of 367.67 and a beta of 0.96. The firm’s 50-day simple moving average is $21.86 and its 200-day simple moving average is $19.76. Genco Shipping & Trading has a twelve month low of $12.65 and a twelve month high of $23.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.94 and a current ratio of 3.72.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Genco Shipping & Trading had a return on equity of 5.15% and a net margin of 0.81%. The company had revenue of $117.44 million for the quarter, compared to the consensus estimate of $77.31 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company’s quarterly revenue was up 24.4% on a year-over-year basis. As a group, research analysts expect that Genco Shipping & Trading will post 2.34 EPS for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd were paid a $0.42 dividend. The ex-dividend date was Tuesday, May 21st. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 7.62%. Genco Shipping & Trading’s payout ratio is currently 2,800.00%.

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.