B. Riley Analysts Reduce Earnings Estimates for GNK

Genco Shipping & Trading Limited (NYSE:GNK) – Investment analysts at B. Riley decreased their Q4 2024 earnings per share estimates for shares of Genco Shipping & Trading in a research report issued on Thursday, November 7th. B. Riley analyst L. Burke now forecasts that the shipping company will post earnings per share of $0.34 for the quarter, down from their previous forecast of $0.48. The consensus estimate for Genco Shipping & Trading’s current full-year earnings is $1.79 per share.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings results on Wednesday, November 6th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The business had revenue of $99.33 million for the quarter, compared to analyst estimates of $72.02 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group restated a “buy” rating and issued a $25.00 target price on shares of Genco Shipping & Trading in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Genco Shipping & Trading in a report on Wednesday, September 4th. They issued a “buy” rating and a $22.00 target price on the stock. Finally, Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their price target for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.20.

Genco Shipping & Trading Stock Performance

NYSE GNK opened at $17.55 on Friday. The company has a current ratio of 3.59, a quick ratio of 2.94 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $17.33 and a 200 day simple moving average of $19.45. Genco Shipping & Trading has a 12-month low of $12.65 and a 12-month high of $23.43. The company has a market cap of $750.44 million, a P/E ratio of 53.18, a PEG ratio of 0.25 and a beta of 0.98.

Genco Shipping & Trading Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, November 18th. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently 412.12%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC grew its position in shares of Genco Shipping & Trading by 109.5% during the 2nd quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock valued at $41,000 after acquiring an additional 998 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Genco Shipping & Trading in the second quarter worth $82,000. nVerses Capital LLC bought a new stake in shares of Genco Shipping & Trading in the second quarter valued at $136,000. Point72 DIFC Ltd purchased a new position in shares of Genco Shipping & Trading during the 2nd quarter valued at $178,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Genco Shipping & Trading by 80.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,980 shares of the shipping company’s stock worth $191,000 after acquiring an additional 4,003 shares during the period. Institutional investors own 58.62% 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.