Genco Shipping & Trading Limited (NYSE:GNK) Stock Has Consensus Target Price of $29.00

Key Points

• Analyst consensus is “Hold” for Genco Shipping & Trading, with two buy, two hold and one sell rating; the average 12-month price target is $29.00 versus a recent share price of $26.64.
• Genco reported quarterly EPS of $0.65, beating estimates of $0.60, while revenue rose 68.5% year over year to $136.41 million.
• The company increased its quarterly dividend to $0.80 per share, implying a $3.20 annualized payout and an approximately 12.0% dividend yield, though its payout ratio is elevated at 351.65%.

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has been given an average rating of "Hold" by the five research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $29.00.

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Genco Shipping & Trading from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday. BTIG Research dropped coverage on Genco Shipping & Trading in a research note on Friday, September 18th. They set a "neutral" rating for the company. B. Riley Financial restated a "buy" rating on shares of Genco Shipping & Trading in a report on Friday, August 7th. Finally, Zacks Research lowered shares of Genco Shipping & Trading from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th.

Genco Shipping & Trading Stock Performance

Shares of Genco Shipping & Trading stock opened at $26.64 on Friday. The company has a market capitalization of $1.16 billion, a PE ratio of 29.28, a PEG ratio of 3.00 and a beta of 0.96. Genco Shipping & Trading has a 12 month low of $15.58 and a 12 month high of $28.42. The company has a current ratio of 2.97, a quick ratio of 2.41 and a debt-to-equity ratio of 0.36. The stock's fifty day simple moving average is $26.47 and its 200 day simple moving average is $24.26.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The shipping company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.05. Genco Shipping & Trading had a return on equity of 6.46% and a net margin of 9.15%. The firm had revenue of $136.41 million during the quarter, compared to analysts' expectations of $90.59 million. During the same period in the previous year, the firm earned ($0.16) earnings per share. The company's revenue was up 68.5% on a year-over-year basis. On average, research analysts predict that Genco Shipping & Trading will post 2.22 EPS for the current year.

Genco Shipping & Trading Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 17th were given a dividend of $0.80 per share. This is a positive change from Genco Shipping & Trading's previous quarterly dividend of $0.35. This represents a $3.20 annualized dividend and a dividend yield of 12.0%. The ex-dividend date of this dividend was Monday, August 17th. Genco Shipping & Trading's payout ratio is currently 351.65%.

Institutional Investors Weigh In On Genco Shipping & Trading

Several institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in shares of Genco Shipping & Trading in the 1st quarter valued at about $2,552,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Genco Shipping & Trading by 56.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 286,568 shares of the shipping company's stock valued at $6,462,000 after purchasing an additional 102,868 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Genco Shipping & Trading by 104.8% during the first quarter. Quantinno Capital Management LP now owns 56,860 shares of the shipping company's stock worth $1,282,000 after buying an additional 29,098 shares during the period. Empowered Funds LLC boosted its position in shares of Genco Shipping & Trading by 12.4% during the first quarter. Empowered Funds LLC now owns 226,751 shares of the shipping company's stock worth $5,113,000 after buying an additional 25,002 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Genco Shipping & Trading during the first quarter worth about $560,000. 58.62% of the stock is owned by institutional investors.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited NYSE: GNK is a drybulk shipping company that owns and operates a fleet of oceangoing vessels. The company transports essential commodities, including iron ore, grain, coal and other major and minor bulk cargoes, for customers around the world.

Genco's fleet includes large Capesize vessels as well as Ultramax, Supramax and Handysize ships. These vessels serve different segments of the drybulk market and support the movement of raw materials used in energy production, agriculture, construction and industrial manufacturing.

Founded in 1997 and headquartered in New York, Genco serves international trade routes across major global commodity markets.

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