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

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

A number of research analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Genco Shipping & Trading from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. StockNews.com raised Genco Shipping & Trading from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. B. Riley upped their price target on Genco Shipping & Trading from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Stifel Nicolaus increased their price objective on Genco Shipping & Trading from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, TheStreet raised Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Thursday, February 22nd.

Read Our Latest Stock Report on Genco Shipping & Trading

Genco Shipping & Trading Trading Up 0.2 %

NYSE GNK opened at $21.78 on Tuesday. The company has a market cap of $931.10 million, a price-to-earnings ratio of 362.92 and a beta of 1.00. Genco Shipping & Trading has a 52 week low of $12.65 and a 52 week high of $23.43. The business has a 50 day moving average price of $21.68 and a 200-day moving average price of $19.06. The company has a quick ratio of 2.94, a current ratio of 3.72 and a debt-to-equity ratio of 0.18.

Genco Shipping & Trading (NYSE:GNKGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The business had revenue of $117.44 million during the quarter, compared to the consensus estimate of $77.31 million. Genco Shipping & Trading had a return on equity of 5.15% and a net margin of 0.81%. Genco Shipping & Trading’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. As a group, equities analysts expect that Genco Shipping & Trading will post 2.34 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 22nd were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date was Tuesday, May 21st. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.41. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 2,800.00%.

Insider Activity

In other Genco Shipping & Trading 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 transaction of $32,004.00. Following the completion of the transaction, the director now owns 104,414 shares in the company, valued at $2,386,904.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Genco Shipping & Trading by 1,632.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,270 shares of the shipping company’s stock valued at $32,000 after buying an additional 2,139 shares during the last quarter. Gladius Capital Management LP purchased a new position in Genco Shipping & Trading during the fourth quarter valued at $37,000. CWM LLC raised its stake in Genco Shipping & Trading by 550.0% during the fourth quarter. CWM LLC now owns 3,796 shares of the shipping company’s stock valued at $63,000 after buying an additional 3,212 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in Genco Shipping & Trading during the fourth quarter valued at $126,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Genco Shipping & Trading by 72.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,147 shares of the shipping company’s stock worth $152,000 after purchasing an additional 3,838 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company’s stock.

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.

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