Analysts Set Genco Shipping & Trading Limited (NYSE:GNK) PT at $26.75

Genco Shipping & Trading Limited (NYSE:GNK) has received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.75.

A number of analysts have recently issued reports on GNK shares. Stifel Nicolaus raised their price objective on Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group raised their price objective on Genco Shipping & Trading from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Alliance Global Partners increased their target price on Genco Shipping & Trading from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, July 1st. B. Riley increased their target price on Genco Shipping & Trading from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, StockNews.com upgraded Genco Shipping & Trading from a “sell” rating to a “hold” rating in a research note on Friday, May 10th.

Insiders Place Their Bets

In other Genco Shipping & Trading news, Director Arthur L. Regan sold 1,400 shares of the firm’s 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 transaction, the director now owns 104,414 shares in the company, valued at approximately $2,386,904.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Genco Shipping & Trading

A number of hedge funds have recently added to or reduced their stakes in GNK. Foundry Partners LLC bought a new position in shares of Genco Shipping & Trading in the 1st quarter valued at $3,812,000. SG Americas Securities LLC boosted its holdings in shares of Genco Shipping & Trading by 696.5% during the 4th quarter. SG Americas Securities LLC now owns 78,118 shares of the shipping company’s stock valued at $1,296,000 after acquiring an additional 68,310 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of 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 acquiring an additional 96,050 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Genco Shipping & Trading by 6,233.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,945 shares of the shipping company’s stock valued at $24,395,000 after acquiring an additional 1,181,000 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Genco Shipping & Trading by 30.8% during the 4th quarter. Allianz Asset Management GmbH now owns 156,085 shares of the shipping company’s stock valued at $2,589,000 after acquiring an additional 36,776 shares in the last quarter. Institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Performance

Shares of NYSE GNK opened at $19.56 on Wednesday. Genco Shipping & Trading has a 52 week low of $12.65 and a 52 week high of $23.43. The stock has a market capitalization of $836.39 million, a PE ratio of 326.00 and a beta of 0.96. The stock has a 50 day moving average price of $21.30 and a 200 day moving average price of $20.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.94 and a current ratio of 3.72.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. Genco Shipping & Trading had a return on equity of 5.15% and a net margin of 0.81%. The company had revenue of $117.44 million during the quarter, compared to analysts’ expectations of $77.31 million. During the same period last year, the firm posted $0.06 earnings per share. The business’s revenue was up 24.4% on a year-over-year basis. Analysts predict that Genco Shipping & Trading will post 2.27 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 8.59%. The ex-dividend date of this dividend was Tuesday, May 21st. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.41. Genco Shipping & Trading’s dividend payout ratio (DPR) is 2,800.00%.

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.