Genco Shipping & Trading (NYSE:GNK) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Genco Shipping & Trading Limited (NYSE:GNK) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $24.38 and traded as high as $25.96. Genco Shipping & Trading shares last traded at $25.3670, with a volume of 336,980 shares traded.

Analyst Upgrades and Downgrades

GNK has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $29.00 price target on shares of Genco Shipping & Trading in a research report on Friday, May 8th. Zacks Research downgraded shares of Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Alliance Global Partners restated a “neutral” rating on shares of Genco Shipping & Trading in a report on Wednesday, June 17th. Finally, Weiss Ratings upgraded Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.67.

Genco Shipping & Trading Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.98 and a quick ratio of 2.41. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 66.76, a PEG ratio of 3.68 and a beta of 0.93. The stock’s 50 day simple moving average is $24.38 and its 200-day simple moving average is $22.67.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, May 6th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.19. The company had revenue of $114.43 million during the quarter, compared to the consensus estimate of $65.73 million. Genco Shipping & Trading had a return on equity of 2.49% and a net margin of 4.38%.The firm’s revenue was up 60.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.28) EPS. On average, analysts expect that Genco Shipping & Trading Limited will post 1.81 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were paid a $0.35 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.40 annualized dividend and a dividend yield of 5.5%. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 368.42%.

Hedge Funds Weigh In On Genco Shipping & Trading

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Genco Shipping & Trading by 230.1% in the first quarter. Blue Trust Inc. now owns 1,347 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 939 shares in the last quarter. Strengthening Families & Communities LLC bought a new position in Genco Shipping & Trading in the fourth quarter worth $31,000. Advisory Services Network LLC acquired a new stake in Genco Shipping & Trading during the third quarter worth $30,000. Kemnay Advisory Services Inc. acquired a new stake in Genco Shipping & Trading during the fourth quarter worth $32,000. Finally, Sunbelt Securities Inc. bought a new stake in Genco Shipping & Trading in the 3rd quarter valued at $35,000. 58.62% of the stock is currently owned by institutional investors.

About Genco Shipping & Trading

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.