Genco Shipping & Trading Limited (NYSE:GNK) Receives Average Rating of "Buy" from Analysts

Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) has earned an average recommendation of "Buy" from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $20.75.

A number of equities research analysts recently commented on the company. Pareto Securities upgraded Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st. Wall Street Zen cut Genco Shipping & Trading from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $17.00 price target on shares of Genco Shipping & Trading in a report on Thursday, May 8th. Finally, Dnb Nor Markets raised shares of Genco Shipping & Trading to a "strong-buy" rating in a report on Thursday, May 1st.

Genco Shipping & Trading Price Performance

Shares of NYSE GNK traded down $0.06 during midday trading on Friday, reaching $13.73. 864,566 shares of the company traded hands, compared to its average volume of 564,217. Genco Shipping & Trading has a 12 month low of $11.20 and a 12 month high of $22.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.28 and a current ratio of 1.79. The stock's 50-day simple moving average is $13.31 and its 200-day simple moving average is $13.84. The firm has a market cap of $589.84 million, a PE ratio of 13.20, a PEG ratio of 15.62 and a beta of 1.22.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The shipping company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The firm had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a net margin of 12.12% and a return on equity of 4.22%. Genco Shipping & Trading's quarterly revenue was down 39.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, 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 company also recently declared a dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 23rd were issued 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%.

Institutional Trading of Genco Shipping & Trading

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of Genco Shipping & Trading by 499.7% in the third quarter. Barclays PLC now owns 103,387 shares of the shipping company's stock worth $2,016,000 after acquiring an additional 86,147 shares in the last quarter. Rhumbline Advisers increased its stake in Genco Shipping & Trading by 2.7% during the 4th quarter. Rhumbline Advisers now owns 68,136 shares of the shipping company's stock worth $950,000 after purchasing an additional 1,800 shares in the last quarter. Ieq Capital LLC acquired a new stake in Genco Shipping & Trading during the 4th quarter worth approximately $245,000. Townsend & Associates Inc lifted its stake in Genco Shipping & Trading by 2.2% in the fourth quarter. Townsend & Associates Inc now owns 1,071,959 shares of the shipping company's stock valued at $15,318,000 after buying an additional 23,101 shares in the last quarter. Finally, Partners Wealth Management LLC acquired a new position in shares of Genco Shipping & Trading in the fourth quarter valued at approximately $221,000. Institutional investors and hedge funds 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.