Genco Shipping & Trading Limited (NYSE:GNK) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $24.20.

A number of analysts have commented on GNK shares. Stifel Nicolaus lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their price target for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, 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, November 7th.

Hedge Funds Weigh In On Genco Shipping & Trading

Hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in Genco Shipping & Trading during the 2nd quarter valued at approximately $82,000. Quarry LP increased its holdings in shares of Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock valued at $83,000 after acquiring an additional 3,595 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Genco Shipping & Trading by 830.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company’s stock worth $154,000 after buying an additional 9,847 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Genco Shipping & Trading in the 2nd quarter worth $178,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Genco Shipping & Trading by 26.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,190 shares of the shipping company’s stock valued at $198,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Trading Up 0.9 %

GNK opened at $14.40 on Wednesday. The stock has a market cap of $615.53 million, a PE ratio of 9.17, a price-to-earnings-growth ratio of 0.24 and a beta of 0.99. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08. Genco Shipping & Trading has a twelve month low of $13.51 and a twelve month high of $23.43. The company has a fifty day moving average of $15.24 and a 200-day moving average of $17.07.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. The business had revenue of $99.33 million during the quarter, compared to the consensus estimate of $72.02 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, sell-side analysts predict that Genco Shipping & Trading will post 1.75 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.40 per share. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.34. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.11%. The ex-dividend date of this dividend was Monday, November 18th. Genco Shipping & Trading’s dividend payout ratio (DPR) is 101.91%.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.