Genco Shipping & Trading Limited (NYSE:GNK) Receives $25.80 Average Price Target from Brokerages

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $25.80.

GNK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Genco Shipping & Trading in a research note on Wednesday, September 4th. They issued a “buy” rating and a $22.00 target price on the stock. Alliance Global Partners boosted their target price on Genco Shipping & Trading from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, July 1st.

Institutional Trading of Genco Shipping & Trading

Several large investors have recently modified their holdings of GNK. Moors & Cabot Inc. raised its holdings in Genco Shipping & Trading by 2.0% in the 2nd quarter. Moors & Cabot Inc. now owns 31,404 shares of the shipping company’s stock worth $669,000 after acquiring an additional 628 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Genco Shipping & Trading by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 54,318 shares of the shipping company’s stock valued at $1,158,000 after purchasing an additional 682 shares during the last quarter. CWM LLC increased its stake in shares of Genco Shipping & Trading by 109.5% in the second quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after purchasing an additional 998 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Genco Shipping & Trading by 12.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,453 shares of the shipping company’s stock worth $244,000 after purchasing an additional 1,279 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Genco Shipping & Trading by 7.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 18,300 shares of the shipping company’s stock worth $390,000 after purchasing an additional 1,300 shares during the last quarter. 58.62% of the stock is owned by institutional investors.

Genco Shipping & Trading Stock Performance

GNK stock opened at $17.72 on Thursday. The stock has a market cap of $757.67 million, a P/E ratio of 295.33, a P/E/G ratio of 0.24 and a beta of 0.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.94 and a current ratio of 3.59. The firm has a 50 day simple moving average of $18.25 and a 200 day simple moving average of $20.19. Genco Shipping & Trading has a 52 week low of $12.65 and a 52 week high of $23.43.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. Genco Shipping & Trading had a net margin of 3.59% and a return on equity of 6.11%. The business had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $74.86 million. During the same period in the previous year, the company posted $0.27 EPS. Genco Shipping & Trading’s revenue was up 18.1% on a year-over-year basis. Research analysts anticipate that Genco Shipping & Trading will post 2.1 earnings per share for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were given a $0.34 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 7.67%. Genco Shipping & Trading’s dividend payout ratio is currently 2,266.67%.

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.