Brokerages Set Genco Shipping & Trading Limited (NYSE:GNK) PT at $20.75

Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have earned an average recommendation of "Buy" from the six analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $20.75.

A number of brokerages recently issued reports on GNK. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 target price on shares of Genco Shipping & Trading in a research report on Thursday, May 8th. Dnb Nor Markets upgraded shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Thursday, May 1st. Wall Street Zen cut shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, Pareto Securities upgraded Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st.

Insider Buying and Selling at Genco Shipping & Trading

In other Genco Shipping & Trading news, CFO Peter George Allen sold 8,984 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $125,416.64. Following the sale, the chief financial officer now directly owns 45,251 shares of the company's stock, valued at approximately $631,703.96. This represents a 16.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Joseph Adamo sold 6,226 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $13.96, for a total transaction of $86,914.96. Following the sale, the chief accounting officer now directly owns 26,829 shares in the company, valued at $374,532.84. This represents a 18.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,812 shares of company stock valued at $402,216. 2.37% of the stock is currently owned by company insiders.

Institutional Trading of Genco Shipping & Trading

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its position in Genco Shipping & Trading by 499.7% in the 3rd quarter. Barclays PLC now owns 103,387 shares of the shipping company's stock valued at $2,016,000 after purchasing an additional 86,147 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Genco Shipping & Trading by 830.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,033 shares of the shipping company's stock worth $154,000 after acquiring an additional 9,847 shares during the last quarter. SG Americas Securities LLC grew its holdings in Genco Shipping & Trading by 11.8% during the 4th quarter. SG Americas Securities LLC now owns 29,881 shares of the shipping company's stock worth $417,000 after acquiring an additional 3,142 shares during the last quarter. Inspire Investing LLC grew its holdings in Genco Shipping & Trading by 35.2% during the 4th quarter. Inspire Investing LLC now owns 28,633 shares of the shipping company's stock worth $399,000 after acquiring an additional 7,457 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in Genco Shipping & Trading by 22.6% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 33,330 shares of the shipping company's stock worth $465,000 after acquiring an additional 6,150 shares during the last quarter. 58.62% of the stock is owned by institutional investors.

Genco Shipping & Trading Stock Performance

Genco Shipping & Trading stock traded up $0.23 during trading hours on Tuesday, reaching $13.27. 649,818 shares of the company were exchanged, compared to its average volume of 547,115. The firm has a market cap of $569.85 million, a price-to-earnings ratio of 7.58, a PEG ratio of 5.64 and a beta of 1.17. 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 has a 12 month low of $11.20 and a 12 month high of $22.68. The stock has a 50-day moving average of $13.15 and a 200 day moving average of $14.25.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The firm had revenue of $41.64 million for the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The firm's revenue was down 39.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. As a group, research analysts anticipate that Genco Shipping & Trading will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 23rd will be paid a $0.15 dividend. The ex-dividend date is Thursday, May 22nd. This represents a dividend yield of 4.28%. Genco Shipping & Trading's dividend payout ratio is currently 57.69%.

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.