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

Key Points

• Genco Shipping & Trading has received an average rating of "Buy" from five analysts, with a 12-month target price of $18.67.
• The company reported a quarterly earnings loss of ($0.28) per share, missing estimates, with revenue down 39.3% year-over-year.
• Genco recently declared a dividend of $0.15, translating to a significant yield of 428.0%.

Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have received a consensus recommendation of "Buy" from the five research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $19.3333.

Several equities research analysts have commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $19.00 price target on shares of Genco Shipping & Trading in a report on Thursday. Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st.

Institutional Investors Weigh In On Genco Shipping & Trading

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Transatlantique SA acquired a new position in Genco Shipping & Trading in the 4th quarter valued at about $28,000. Signaturefd LLC raised its position in shares of Genco Shipping & Trading by 239.0% in the 2nd quarter. Signaturefd LLC now owns 2,549 shares of the shipping company's stock worth $33,000 after buying an additional 1,797 shares during the period. Summit Securities Group LLC purchased a new stake in Genco Shipping & Trading during the first quarter valued at about $39,000. Farther Finance Advisors LLC increased its stake in Genco Shipping & Trading by 303.3% during the second quarter. Farther Finance Advisors LLC now owns 3,275 shares of the shipping company's stock worth $43,000 after acquiring an additional 2,463 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Genco Shipping & Trading by 1,119.1% in 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 in the last quarter. Hedge funds and other institutional investors own 58.62% of the company's stock.

Genco Shipping & Trading Trading Down 3.8%

GNK traded down $0.64 during midday trading on Friday, reaching $16.14. 899,726 shares of the company's stock traded hands, compared to its average volume of 690,183. The stock has a market capitalization of $693.16 million, a price-to-earnings ratio of 15.51 and a beta of 1.19. The firm has a fifty day moving average of $14.39 and a two-hundred day moving average of $13.91. Genco Shipping & Trading has a 52 week low of $11.20 and a 52 week high of $19.51. 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 (NYSE:GNK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.01. Genco Shipping & Trading had a net margin of 12.12% and a return on equity of 4.22%. The company had revenue of $46.90 million for the quarter, compared to the consensus estimate of $50.19 million. During the same quarter last year, the firm posted $0.46 earnings per share. The firm's revenue was down 24.4% compared to the same quarter last year. On average, equities analysts anticipate that Genco Shipping & Trading will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 23rd were given a $0.15 dividend. The ex-dividend date was Thursday, May 22nd. This represents a dividend yield of 428.0%. Genco Shipping & Trading's payout ratio is currently 57.69%.

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.