Genco Shipping & Trading Limited (NYSE:GNK) Receives $25.00 Consensus PT from Brokerages

Shares of Genco Shipping & Trading Limited (NYSE:GNKGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the four research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $25.00.

Several analysts recently commented on the company. Stifel Nicolaus boosted their price target on Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 19th. B. Riley boosted their target price on shares of Genco Shipping & Trading from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. TheStreet raised shares of Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Thursday, February 22nd. StockNews.com raised shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Friday. Finally, Jefferies Financial Group upped their price objective on shares of Genco Shipping & Trading from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday.

Read Our Latest Analysis on GNK

Genco Shipping & Trading Stock Up 0.6 %

GNK opened at $22.84 on Friday. Genco Shipping & Trading has a fifty-two week low of $12.39 and a fifty-two week high of $23.43. The company has a market capitalization of $976.41 million, a P/E ratio of 380.67 and a beta of 1.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.72 and a quick ratio of 3.70. The firm’s fifty day moving average price is $20.82 and its two-hundred day moving average price is $17.78.

Genco Shipping & Trading (NYSE:GNKGet Free Report) last posted its earnings results 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. The business had revenue of $117.44 million for the quarter, compared to analysts’ expectations of $77.31 million. Genco Shipping & Trading had a net margin of 0.81% and a return on equity of 5.15%. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, analysts anticipate that Genco Shipping & Trading will post 2.34 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Wednesday, May 22nd will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 7.36%. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, May 21st. Genco Shipping & Trading’s payout ratio is currently 2,733.33%.

Insider Buying and Selling

In other news, CFO Peter George Allen sold 7,036 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $139,312.80. Following the sale, the chief financial officer now directly owns 35,518 shares of the company’s stock, valued at $703,256.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Joseph Adamo sold 6,000 shares of Genco Shipping & Trading stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $19.87, for a total value of $119,220.00. Following the completion of the sale, the chief accounting officer now directly owns 17,202 shares in the company, valued at $341,803.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Peter George Allen sold 7,036 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $139,312.80. Following the transaction, the chief financial officer now owns 35,518 shares in the company, valued at $703,256.40. The disclosure for this sale can be found here. Insiders have sold a total of 62,496 shares of company stock worth $1,238,678 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Genco Shipping & Trading

Several large investors have recently bought and sold shares of the business. Elevatus Welath Management acquired a new position in shares of Genco Shipping & Trading in the 1st quarter valued at $5,850,000. Vanguard Group Inc. lifted its stake in Genco Shipping & Trading by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,147,377 shares of the shipping company’s stock valued at $23,326,000 after buying an additional 47,060 shares during the period. Foundry Partners LLC bought a new position in Genco Shipping & Trading during the first quarter worth about $3,812,000. Russell Investments Group Ltd. grew its position in shares of Genco Shipping & Trading by 7.7% during the 1st quarter. Russell Investments Group Ltd. now owns 87,157 shares of the shipping company’s stock worth $1,772,000 after buying an additional 6,253 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Genco Shipping & Trading in the 1st quarter valued at about $361,000. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Genco Shipping & Trading Company Profile

(Get Free Report

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.

See Also

Receive News & Ratings for Genco Shipping & Trading Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genco Shipping & Trading and related companies with MarketBeat.com's FREE daily email newsletter.