Genco Shipping & Trading (NYSE:GNK) Announces Earnings Results, Misses Expectations By $0.27 EPS

Genco Shipping & Trading (NYSE:GNK) released its quarterly earnings results on Wednesday. The shipping company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27), Zacks reports. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.46%.

Genco Shipping & Trading Stock Performance

GNK traded down $0.23 during trading hours on Wednesday, hitting $14.62. The stock had a trading volume of 796,045 shares, compared to its average volume of 429,983. The company’s fifty day simple moving average is $14.34 and its 200 day simple moving average is $16.19. Genco Shipping & Trading has a 1 year low of $13.51 and a 1 year high of $23.43. The stock has a market cap of $625.07 million, a PE ratio of 9.31, a price-to-earnings-growth ratio of 5.60 and a beta of 0.97. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GNK shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, November 7th. Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their target price for the company from $26.00 to $17.00 in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.20.

About Genco Shipping & Trading

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.