Genco Shipping & Trading Limited (NYSE:GNK) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have earned an average rating of "Buy" from the six analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $20.75.

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

Institutional Investors Weigh In On Genco Shipping & Trading

A number of institutional investors have recently bought and sold shares of GNK. Banque Transatlantique SA bought a new position in shares of Genco Shipping & Trading in the 4th quarter valued at about $28,000. Summit Securities Group LLC bought a new stake in shares of Genco Shipping & Trading during the first quarter valued at approximately $39,000. New Age Alpha Advisors LLC purchased a new position in Genco Shipping & Trading during the fourth quarter valued at approximately $56,000. GAMMA Investing LLC increased its holdings in Genco Shipping & Trading by 1,119.1% during the first quarter. GAMMA Investing LLC now owns 4,462 shares of the shipping company's stock valued at $60,000 after buying an additional 4,096 shares during the period. Finally, Amundi increased its holdings in Genco Shipping & Trading by 29.0% during the first quarter. Amundi now owns 8,000 shares of the shipping company's stock valued at $101,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 58.62% of the company's stock.

Genco Shipping & Trading Stock Up 1.1%

Shares of GNK opened at $14.13 on Friday. The company has a market capitalization of $607.01 million, a PE ratio of 8.07, a PEG ratio of 5.64 and a beta of 1.22. Genco Shipping & Trading has a 12 month low of $11.20 and a 12 month high of $22.18. The stock's 50-day moving average price is $13.24 and its two-hundred day moving average price is $13.89. 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 issued its 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 the consensus estimate of $43.49 million. Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The business's quarterly revenue was down 39.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. On average, analysts anticipate 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. Stockholders of record on Friday, May 23rd were given a dividend of $0.15 per share. This represents a dividend yield of 4.28%. The ex-dividend date of this dividend was Thursday, May 22nd. Genco Shipping & Trading's payout ratio 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.

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