Wall Street Zen cut shares of Genco Shipping & Trading (NYSE:GNK - Free Report) from a hold rating to a sell rating in a research report report published on Wednesday.
A number of other brokerages have also recently issued reports on GNK. Jefferies Financial Group reissued a "buy" rating and issued a $17.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. Dnb Nor Markets upgraded Genco Shipping & Trading to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Pareto Securities raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.75.
Read Our Latest Stock Report on GNK
Genco Shipping & Trading Trading Up 1.7%
NYSE:GNK traded up $0.23 during trading hours on Wednesday, hitting $13.27. The stock had a trading volume of 649,818 shares, compared to its average volume of 547,115. Genco Shipping & Trading has a one year low of $11.20 and a one year high of $22.68. The business's 50 day moving average is $13.15 and its 200-day moving average is $14.25. The company has a market cap of $569.85 million, a price-to-earnings ratio of 7.58, a P/E/G ratio of 5.64 and a beta of 1.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.49 and a current ratio of 3.09.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The company had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. During the same period in the previous year, the company posted $0.49 EPS. The company's quarterly revenue was down 39.3% compared to the same quarter last year. Sell-side analysts anticipate that Genco Shipping & Trading will post 0.48 EPS for the current fiscal year.
Genco Shipping & Trading Announces Dividend
The company also recently declared a dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, May 22nd. This represents a yield of 4.28%. Genco Shipping & Trading's payout ratio is currently 57.69%.
Institutional Trading of Genco Shipping & Trading
Several institutional investors and hedge funds have recently bought and sold shares of GNK. Banque Transatlantique SA purchased a new position in Genco Shipping & Trading during the fourth quarter valued at $28,000. R Squared Ltd bought a new position in shares of Genco Shipping & Trading during the fourth quarter valued at $29,000. Summit Securities Group LLC bought a new position in Genco Shipping & Trading in the 1st quarter worth about $39,000. New Age Alpha Advisors LLC bought a new stake in Genco Shipping & Trading during the 4th quarter valued at about $56,000. Finally, GAMMA Investing LLC grew its holdings in shares of 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 last quarter. 58.62% of the stock is currently owned by hedge funds and other institutional investors.
Genco Shipping & Trading Company Profile
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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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