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

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has been given an average rating of "Buy" by the five research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $18.67.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of 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 acquiring an additional 10,193 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 worth $22,404,000 after acquiring an additional 1,652,966 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of 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 worth $19,544,000 after acquiring an additional 101,283 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 buying an additional 190,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Genco Shipping & Trading by 1.0% during the fourth 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 and hedge funds own 58.62% of the company's stock.

Genco Shipping & Trading Trading Up 4.6%

GNK stock traded up $0.64 during trading on Wednesday, reaching $14.54. 202,153 shares of the stock traded hands, compared to its average volume of 572,857. The business's 50 day moving average price is $13.59 and its 200-day moving average price is $13.70. Genco Shipping & Trading has a 52-week low of $11.20 and a 52-week high of $21.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.79 and a quick ratio of 1.28. The firm has a market capitalization of $624.64 million, a PE ratio of 14.01, a P/E/G ratio of 15.96 and a beta of 1.18.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). Genco Shipping & Trading had a net margin of 12.12% and a return on equity of 4.22%. The firm had revenue of $41.64 million for the quarter, compared to analysts' expectations of $43.49 million. During the same period last year, the firm posted $0.49 EPS. Genco Shipping & Trading's revenue was down 39.3% on a year-over-year basis. As a group, sell-side analysts forecast that Genco Shipping & Trading will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

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