Genco Shipping & Trading Limited (NYSE:GNK) Receives Average Rating of “Hold” from Analysts

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have been given an average rating of “Hold” by the five research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $23.6667.

A number of analysts recently commented on the stock. Weiss Ratings raised shares of Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. Alliance Global Partners downgraded shares of Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $29.00 price objective on shares of Genco Shipping & Trading in a report on Friday, May 8th. Finally, Zacks Research downgraded shares of Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th.

Institutional Trading of Genco Shipping & Trading

Institutional investors and hedge funds have recently modified their holdings of the business. Atlantic Union Bankshares Corp purchased a new stake in shares of Genco Shipping & Trading in the third quarter valued at about $30,000. Blue Trust Inc. lifted its holdings 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. Advisory Services Network LLC purchased a new stake in shares of Genco Shipping & Trading in the third quarter valued at about $30,000. Strengthening Families & Communities LLC purchased a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at about $31,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Genco Shipping & Trading in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 58.62% of the company’s stock.

Genco Shipping & Trading Trading Up 0.3%

Shares of Genco Shipping & Trading stock opened at $24.14 on Tuesday. Genco Shipping & Trading has a 52-week low of $12.66 and a 52-week high of $27.25. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 0.36. The company’s 50-day simple moving average is $23.90 and its 200-day simple moving average is $21.44. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 63.52, a price-to-earnings-growth ratio of 3.47 and a beta of 0.97.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, May 6th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.19. Genco Shipping & Trading had a net margin of 4.38% and a return on equity of 2.49%. The business had revenue of $114.43 million for the quarter, compared to analyst estimates of $65.73 million. During the same period in the previous year, the business posted ($0.28) earnings per share. The business’s revenue was up 60.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Genco Shipping & Trading will post 1.81 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 5.8%. Genco Shipping & Trading’s payout ratio is currently 368.42%.

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.