Genco Shipping & Trading (GNK) Set to Announce Quarterly Earnings on Wednesday

Genco Shipping & Trading (NYSE:GNK) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Genco Shipping & Trading to post earnings of $0.43 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings data on Wednesday, February 21st. The shipping company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Genco Shipping & Trading had a negative net margin of 3.35% and a positive return on equity of 3.10%. The business had revenue of $115.50 million for the quarter, compared to analyst estimates of $72.54 million. During the same quarter last year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts expect Genco Shipping & Trading to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK opened at $22.26 on Monday. The company has a market capitalization of $951.62 million, a price-to-earnings ratio of -71.81 and a beta of 1.11. The company has a current ratio of 4.46, a quick ratio of 3.70 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average of $20.58 and a two-hundred day moving average of $17.48. Genco Shipping & Trading has a twelve month low of $12.39 and a twelve month high of $22.38.

Genco Shipping & Trading Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Wednesday, March 6th were given a $0.41 dividend. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.15. This represents a $1.64 annualized dividend and a dividend yield of 7.37%. The ex-dividend date was Tuesday, March 5th. Genco Shipping & Trading’s dividend payout ratio (DPR) is -529.03%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GNK. StockNews.com downgraded Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. TheStreet upgraded shares of Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Thursday, February 22nd. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

Insider Buying and Selling at Genco Shipping & Trading

In other news, CFO Peter George Allen sold 7,036 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total value of $139,312.80. Following the sale, the chief financial officer now owns 35,518 shares in the company, valued at $703,256.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Peter George Allen sold 7,036 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $139,312.80. Following the completion of the transaction, the chief financial officer now directly owns 35,518 shares of the company’s stock, valued at approximately $703,256.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jesper Christensen sold 12,404 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.80, for a total value of $245,599.20. Following the transaction, the insider now owns 42,587 shares of the company’s stock, valued at approximately $843,222.60. The disclosure for this sale can be found here. Insiders have sold a total of 62,496 shares of company stock worth $1,238,678 over the last 90 days. Insiders own 2.50% of the company’s stock.

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.