Genco Shipping & Trading Limited (NYSE:GNK – Get Rating ) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month average price among brokerages that have covered the stock in the last year is $23.20.
→ Money holders still do not take steps to prepare. (From Investor Place Media)
A number of research analysts have commented on GNK shares. BTIG Research reduced their price objective on shares of Genco Shipping & Trading to $22.00 in a research note on Tuesday, November 15th. Alliance Global Partners reduced their price objective on shares of Genco Shipping & Trading to $27.00 in a research note on Wednesday, November 16th. StockNews.com initiated coverage on shares of Genco Shipping & Trading in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, B. Riley decreased their price objective on shares of Genco Shipping & Trading from $31.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, October 10th.
Genco shipping and pricing performance
GNK opened at $18.14 on Wednesday. The company has a fifty day simple moving average of $15.53 and a 200 day simple moving average of $15.24. The company has a market cap of $767.87 million, a price-to-earnings ratio of 3.52 and a beta of 1.01. Genco Shipping & Trading has a twelve month low of $11.92 and a twelve month high of $27.15. The company has a current ratio of 2.63, a quick ratio of 2.05, and a debt-equity ratio of 0.18.
Genco Shipping & Trading (NYSE:GNK – Get Rating ) last released its quarterly earnings results on Wednesday, November 9th. The shipping company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The business had revenue of $96.47 million for the quarter, compared to analysts’ estimates of $91.19 million. Genco Shipping & Trading had a net margin of 37.21% and a return on equity of 22.98%. equities research analysts expect that Genco Shipping & Trading will post 3.66 EPS for the current fiscal year.
Genco includes shipping and business divisions
The firm recently declared a quarterly dividend, which was paid on Monday, November 28th. Shareholders of record on Monday, November 21st were given a $0.78 dividend. This is an increase of $0.50 from Genco Shipping & Trading’s previous quarter’s dividend. This represents a dividend of $3.12 per year and a dividend yield of 17.20%. The previous split date was Friday November 18th. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently 60.58%.
Institutional flows and exits
A number of large investors have recently upgraded their businesses. Lazard Asset Management LLC lifted its position in shares of Genco Shipping & Trading by 8.5% in the 1st quarter. Lazard Asset Management LLC now owns 6,728 shares of the shipping company’s stock valued at $158,000 after buying an additional 526 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in Genco Shipping & Trading by 1.7% during the 4th quarter. SummerHaven Investment Management LLC now owns 48,041 shares of the shipping company’s stock valued at $738,000 after purchasing an additional 788 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in Genco Shipping & Trading by 53.2% in the 3rd quarter. Ensign Peak Advisors Inc. now owns 2,420 shares of the shipping company’s stock valued at $30,000 after buying an additional 840 shares in the last quarter. Fulcrum Equity Management raised its position in Genco Shipping & Trading by 5.2% during the 4th quarter. Fulcrum Equity Management now owns 18,922 shares of the shipping company’s stock valued at $291,000 after buying an additional 940 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Genco Shipping & Trading worth about $26,000. Currently, 67.67% of the shares are owned by institutional investors.
Genco Shipping and Trading Company Profile
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Genco Shipping & Trading Limited, together with its subsidiaries, is involved in ocean dry bulk cargo worldwide. The company owns and operates dry bulk carriers for the transportation of iron ore, coal, grain, steel products and other dry bulk cargoes. The equipment is mainly rented to businesses, including dealers. Producers: and government-owned entities.
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