Genco Shipping & Trading Limited (NYSE:GNK) Receives Consensus Recommendation of "Buy" from Brokerages

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has received a consensus recommendation of "Buy" from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $23.00.

A number of equities analysts have weighed in on GNK shares. Pareto Securities raised Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st. Jefferies Financial Group lowered their price objective on shares of Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th.

Insider Transactions at Genco Shipping & Trading

In related news, CAO Joseph Adamo sold 6,226 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $86,914.96. Following the completion of the transaction, the chief accounting officer now owns 26,829 shares of the company's stock, valued at approximately $374,532.84. This represents a 18.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jesper Christensen sold 13,602 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $13.96, for a total value of $189,883.92. Following the completion of the sale, the insider now owns 57,322 shares of the company's stock, valued at $800,215.12. The trade was a 19.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,812 shares of company stock worth $402,216 in the last three months. Corporate insiders own 2.50% of the company's stock.

Institutional Trading of Genco Shipping & Trading

Institutional investors have recently made changes to their positions in the business. Banque Transatlantique SA purchased a new position in shares of Genco Shipping & Trading in the fourth quarter worth $28,000. R Squared Ltd bought a new stake in Genco Shipping & Trading in the 4th quarter valued at $29,000. New Age Alpha Advisors LLC purchased a new stake in Genco Shipping & Trading in the 4th quarter worth $56,000. GAMMA Investing LLC boosted its holdings in shares of Genco Shipping & Trading by 1,119.1% during the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company's stock valued at $60,000 after purchasing an additional 4,096 shares during the last quarter. Finally, Randolph Co Inc purchased a new position in shares of Genco Shipping & Trading during the first quarter valued at about $134,000. Hedge funds and other institutional investors own 58.62% of the company's stock.

Genco Shipping & Trading Stock Down 0.9 %

NYSE:GNK traded down $0.12 on Friday, reaching $12.99. 769,352 shares of the stock traded hands, compared to its average volume of 556,825. The company's fifty day simple moving average is $13.26 and its 200 day simple moving average is $14.59. The company has a market capitalization of $558.04 million, a price-to-earnings ratio of 7.42, a PEG ratio of 5.64 and a beta of 0.96. Genco Shipping & Trading has a 12 month low of $11.20 and a 12 month high of $23.43. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last issued its earnings results on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The business had revenue of $67.95 million for the quarter, compared to analysts' expectations of $67.36 million. Equities analysts predict that Genco Shipping & Trading will post 0.48 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 9.24%. The ex-dividend date of this dividend was Tuesday, March 11th. Genco Shipping & Trading's dividend payout ratio is presently 68.57%.

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.