Genco Shipping & Trading Limited (NYSE:GNK) Given Consensus Rating of "Buy" by Brokerages

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has received a consensus rating of "Buy" from the six analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $20.75.

A number of equities research analysts have recently weighed in on the company. Dnb Nor Markets upgraded Genco Shipping & Trading to a "strong-buy" rating in a report on Thursday, May 1st. Jefferies Financial Group reaffirmed a "buy" rating and set a $17.00 price target on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. StockNews.com cut shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Friday, May 9th. Finally, Pareto Securities raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st.

Genco Shipping & Trading Trading Down 1.3%

Shares of GNK stock opened at $14.02 on Tuesday. The company has a market capitalization of $602.29 million, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 5.64 and a beta of 1.17. Genco Shipping & Trading has a twelve month low of $11.20 and a twelve month high of $23.39. The business's 50 day moving average is $13.18 and its two-hundred day moving average is $14.34. 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 posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The company had revenue of $41.64 million for the quarter, compared to analyst estimates of $43.49 million. During the same period in the previous year, the business earned $0.49 EPS. The firm's revenue was down 39.3% on a year-over-year basis. Equities analysts forecast that Genco Shipping & Trading will post 0.48 EPS for the current year.

Genco Shipping & Trading Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 11th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.56%. The ex-dividend date was Tuesday, March 11th. Genco Shipping & Trading's dividend payout ratio (DPR) is 57.69%.

Insider Buying and Selling at Genco Shipping & Trading

In related news, CAO Joseph Adamo sold 6,226 shares of the firm's stock in a transaction dated 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 sale, the chief accounting officer now directly owns 26,829 shares in the company, valued at approximately $374,532.84. This trade represents a 18.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Peter George Allen sold 8,984 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $125,416.64. Following the completion of the sale, the chief financial officer now owns 45,251 shares of the company's stock, valued at approximately $631,703.96. This trade represents a 16.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,812 shares of company stock valued at $402,216. Company insiders own 2.37% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Genco Shipping & Trading by 0.4% in the fourth 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. increased its stake in Genco Shipping & Trading by 6,887.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,676,967 shares of the shipping company's stock valued at $22,404,000 after purchasing an additional 1,652,966 shares in the last quarter. American Century Companies Inc. increased its stake in Genco Shipping & Trading by 7.4% in the first quarter. American Century Companies Inc. now owns 1,462,880 shares of the shipping company's stock valued at $19,544,000 after purchasing an additional 101,283 shares in the last quarter. Townsend & Associates Inc increased its position in Genco Shipping & Trading by 17.7% in the 1st quarter. Townsend & Associates Inc now owns 1,261,959 shares of the shipping company's stock valued at $15,484,000 after buying an additional 190,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Genco Shipping & Trading by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 990,357 shares of the shipping company's stock valued at $13,809,000 after buying an additional 10,260 shares in the last quarter. Institutional investors own 58.62% of the company's stock.

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, 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.

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