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

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $24.20.

GNK has been the topic of several recent research reports. Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $17.00 in a report on Wednesday, October 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $25.00 price target on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Finally, StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th.

Genco Shipping & Trading Trading Up 0.9 %

Genco Shipping & Trading stock opened at $14.40 on Wednesday. The firm has a market capitalization of $615.53 million, a price-to-earnings ratio of 9.17, a P/E/G ratio of 0.24 and a beta of 0.99. Genco Shipping & Trading has a 52 week low of $13.51 and a 52 week high of $23.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09. The company has a 50 day moving average price of $15.24 and a 200 day moving average price of $17.07.

Genco Shipping & Trading (NYSE:GNK) last posted its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%. The business had revenue of $99.33 million for the quarter, compared to analysts’ expectations of $72.02 million. During the same period in the previous year, the company posted ($0.09) EPS. Genco Shipping & Trading’s revenue was up 19.2% on a year-over-year basis. Research analysts forecast 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. The ex-dividend date was Monday, November 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.11%. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.34. Genco Shipping & Trading’s dividend payout ratio is currently 101.91%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in Genco Shipping & Trading in the second quarter valued at about $82,000. Quarry LP raised its position in 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 purchasing an additional 3,595 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Genco Shipping & Trading in the 2nd quarter valued at $178,000. Intech Investment Management LLC bought a new position in Genco Shipping & Trading in the third quarter valued at about $202,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of Genco Shipping & Trading during the 2nd quarter valued at approximately $221,000. 58.62% of the stock is owned by institutional investors.

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.