Genco Shipping & Trading Limited (NYSE:GNK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Genco Shipping & Trading Limited (NYSE:GNK) has been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $24.20.

Several research firms have recently weighed in on GNK. Stifel Nicolaus downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $25.00 target price on shares of Genco Shipping & Trading in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Genco Shipping & Trading in a research report on Wednesday, September 4th. They issued a “buy” rating and a $22.00 target price for the company.

Genco Shipping & Trading Stock Performance

Shares of GNK stock opened at $17.55 on Friday. Genco Shipping & Trading has a 12 month low of $12.65 and a 12 month high of $23.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.59 and a quick ratio of 2.94. The firm has a market capitalization of $750.44 million, a P/E ratio of 53.18, a P/E/G ratio of 0.25 and a beta of 0.98. The company’s fifty day moving average price is $17.33 and its two-hundred day moving average price is $19.45.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. Genco Shipping & Trading had a net margin of 3.59% and a return on equity of 6.11%. The firm had revenue of $99.33 million for the quarter, compared to analyst estimates of $72.02 million. During the same quarter in the previous year, the business posted ($0.09) EPS. The firm’s revenue was up 19.2% compared to the same quarter last year. On average, research analysts anticipate that Genco Shipping & Trading will post 1.79 earnings per share for the current fiscal year.

Genco Shipping & Trading Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, November 18th. Genco Shipping & Trading’s dividend payout ratio is presently 412.12%.

Institutional Investors Weigh In On Genco Shipping & Trading

Institutional investors have recently modified their holdings of the business. Foundry Partners LLC acquired a new position in Genco Shipping & Trading during the 1st quarter valued at about $3,812,000. Vanguard Group Inc. boosted its stake in Genco Shipping & Trading by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,147,377 shares of the shipping company’s stock valued at $23,326,000 after purchasing an additional 47,060 shares during the period. Dimensional Fund Advisors LP boosted its stake in Genco Shipping & Trading by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,869,297 shares of the shipping company’s stock valued at $61,145,000 after purchasing an additional 33,150 shares during the period. BNP Paribas Financial Markets boosted its stake in Genco Shipping & Trading by 965.0% during the 1st quarter. BNP Paribas Financial Markets now owns 106,003 shares of the shipping company’s stock valued at $2,155,000 after purchasing an additional 96,050 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Genco Shipping & Trading by 6,233.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,945 shares of the shipping company’s stock worth $24,395,000 after acquiring an additional 1,181,000 shares during the period. Institutional investors own 58.62% of the company’s stock.

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.