Analysts Set Genco Shipping & Trading Limited (NYSE:GNK) PT at $19.33

Key Points

• Genco Shipping & Trading has received an average rating of "Buy" from five research firms, with one hold, two buy, and two strong buy recommendations.
• The company recently reported a quarterly earnings per share (EPS) of ($0.14), beating analyst estimates by $0.01, despite a 24.4% year-over-year revenue decline.
• Genco Shipping & Trading announced a quarterly dividend of $0.15 per share, resulting in a 3.5% dividend yield, but has a high payout ratio of 176.47%.

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has been assigned a consensus recommendation of "Buy" from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.3333.

A number of equities analysts have weighed in on GNK shares. Wall Street Zen lowered shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Jefferies Financial Group restated a "buy" rating and set a $19.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, August 7th.

Genco Shipping & Trading Price Performance

Shares of GNK traded up $0.15 during mid-day trading on Thursday, reaching $16.99. The stock had a trading volume of 620,150 shares, compared to its average volume of 563,850. The firm has a market cap of $729.89 million, a price-to-earnings ratio of 49.97 and a beta of 1.22. Genco Shipping & Trading has a 12 month low of $11.20 and a 12 month high of $19.51. The business has a fifty day moving average of $15.57 and a 200 day moving average of $14.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.20 and a current ratio of 1.63.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The shipping company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.01. The business had revenue of $46.90 million during the quarter, compared to analyst estimates of $50.19 million. Genco Shipping & Trading had a net margin of 4.40% and a return on equity of 1.40%. The company's revenue was down 24.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. Equities analysts predict that Genco Shipping & Trading will post 0.48 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 18th were paid a $0.15 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.60 annualized dividend and a yield of 3.5%. Genco Shipping & Trading's payout ratio is presently 176.47%.

Institutional Trading of Genco Shipping & Trading

Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Genco Shipping & Trading by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,838,759 shares of the shipping company's stock worth $39,572,000 after purchasing an additional 10,193 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Genco Shipping & Trading by 6,887.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,676,967 shares of the shipping company's stock worth $22,404,000 after purchasing an additional 1,652,966 shares in the last quarter. American Century Companies Inc. raised its stake in Genco Shipping & Trading by 5.9% during the second quarter. American Century Companies Inc. now owns 1,549,197 shares of the shipping company's stock valued at $20,248,000 after purchasing an additional 86,317 shares in the last quarter. Townsend & Associates Inc raised its stake in Genco Shipping & Trading by 17.7% during the first quarter. Townsend & Associates Inc now owns 1,261,959 shares of the shipping company's stock valued at $15,484,000 after purchasing an additional 190,000 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in Genco Shipping & Trading by 15.3% during the first quarter. Focus Partners Wealth now owns 798,520 shares of the shipping company's stock valued at $10,668,000 after purchasing an additional 106,222 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company's stock.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.