Genco Shipping & Trading (NYSE:GNK) Reaches New 12-Month High – What’s Next?

Genco Shipping & Trading Limited (NYSE:GNK)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $19.82 and last traded at $19.7750, with a volume of 254058 shares changing hands. The stock had previously closed at $19.60.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GNK shares. SEB Equity Research set a $23.00 target price on Genco Shipping & Trading in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genco Shipping & Trading in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $21.00.

Genco Shipping & Trading Stock Up 1.6%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.98 and a current ratio of 2.36. The firm has a market capitalization of $861.10 million, a PE ratio of -117.14 and a beta of 1.19. The company has a fifty day moving average price of $18.43 and a 200-day moving average price of $17.15.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, November 5th. The shipping company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Genco Shipping & Trading had a negative return on equity of 0.62% and a negative net margin of 2.14%.The company had revenue of $79.92 million during the quarter, compared to analyst estimates of $65.06 million. During the same quarter last year, the business posted $0.41 earnings per share. The firm’s revenue was down 19.5% on a year-over-year basis. As a group, analysts expect that Genco Shipping & Trading Limited will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, November 17th. Genco Shipping & Trading’s dividend payout ratio is -352.94%.

Institutional Trading of Genco Shipping & Trading

A number of hedge funds and other institutional investors have recently bought and sold shares of GNK. American Century Companies Inc. lifted its stake in Genco Shipping & Trading by 4.0% during the 3rd quarter. American Century Companies Inc. now owns 1,611,227 shares of the shipping company’s stock valued at $28,680,000 after acquiring an additional 62,030 shares during the period. Townsend & Associates Inc lifted its position in Genco Shipping & Trading by 1.8% during the third quarter. Townsend & Associates Inc now owns 1,267,823 shares of the shipping company’s stock valued at $20,564,000 after purchasing an additional 22,743 shares during the period. Focus Partners Wealth boosted its holdings in Genco Shipping & Trading by 3.9% in the third quarter. Focus Partners Wealth now owns 836,775 shares of the shipping company’s stock valued at $14,959,000 after purchasing an additional 31,596 shares during the last quarter. Bridgeway Capital Management LLC grew its position in Genco Shipping & Trading by 0.9% during the 3rd quarter. Bridgeway Capital Management LLC now owns 456,157 shares of the shipping company’s stock worth $8,120,000 after purchasing an additional 4,288 shares during the period. Finally, CSM Advisors LLC grew its position in Genco Shipping & Trading by 18.4% during the 3rd quarter. CSM Advisors LLC now owns 351,045 shares of the shipping company’s stock worth $6,248,000 after purchasing an additional 54,575 shares during the period. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.