Brokerages Set Genco Shipping & Trading Limited (NYSE:GNK) Target Price at $18.67

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has been given an average recommendation of "Buy" by the five ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.67.

GNK has been the topic of several research reports. Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Thursday, May 1st. Wall Street Zen lowered Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Pareto Securities upgraded Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st. Finally, Jefferies Financial Group restated a "buy" rating and issued a $17.00 target price on shares of Genco Shipping & Trading in a report on Thursday, May 8th.

Institutional Investors Weigh In On Genco Shipping & Trading

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $332,000. Townsend & Associates Inc lifted its position in Genco Shipping & Trading by 17.7% in the first 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Genco Shipping & Trading by 51.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,355 shares of the shipping company's stock worth $911,000 after buying an additional 22,316 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Genco Shipping & Trading by 36.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,852 shares of the shipping company's stock valued at $1,782,000 after acquiring an additional 33,949 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Genco Shipping & Trading in the 1st quarter valued at approximately $869,000. Institutional investors and hedge funds own 58.62% of the company's stock.

Genco Shipping & Trading Price Performance

NYSE GNK traded up $0.83 during trading hours on Wednesday, reaching $14.73. The company's stock had a trading volume of 896,469 shares, compared to its average volume of 574,903. The firm has a market capitalization of $632.80 million, a price-to-earnings ratio of 14.16, a P/E/G ratio of 15.75 and a beta of 1.18. The company's 50-day moving average is $13.62 and its two-hundred day moving average is $13.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.79 and a quick ratio of 1.28. Genco Shipping & Trading has a 1-year low of $11.20 and a 1-year high of $21.08.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company 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 4.22% and a net margin of 12.12%. The firm's revenue for the quarter was down 39.3% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. On average, equities analysts predict that Genco Shipping & Trading will post 0.48 EPS for the current year.

Genco Shipping & Trading Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 23rd were issued a $0.15 dividend. This represents a yield of 4.28%. The ex-dividend date of this dividend was Thursday, May 22nd. Genco Shipping & Trading's dividend payout ratio is presently 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.