Genco Shipping & Trading (NYSE:GNK - Get Free Report) was upgraded by research analysts at Dnb Nor Markets to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.
Several other brokerages have also recently issued reports on GNK. Pareto Securities raised shares of Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. Jefferies Financial Group lowered their price target on Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $23.00.
Read Our Latest Analysis on Genco Shipping & Trading
Genco Shipping & Trading Stock Performance
Shares of GNK opened at $13.62 on Thursday. The company has a market capitalization of $584.89 million, a price-to-earnings ratio of 7.78, a PEG 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 has a 1 year low of $11.20 and a 1 year high of $23.43. The company's 50 day simple moving average is $13.22 and its 200 day simple moving average is $14.53.
Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The company had revenue of $67.95 million for the quarter, compared to analyst estimates of $67.36 million. On average, sell-side analysts predict that Genco Shipping & Trading will post 0.48 EPS for the current year.
Insider Activity at Genco Shipping & Trading
In other Genco Shipping & Trading news, insider Jesper Christensen sold 13,602 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $189,883.92. Following the transaction, the insider now owns 57,322 shares in the company, valued at $800,215.12. The trade was a 19.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Joseph Adamo sold 6,226 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $86,914.96. Following the sale, the chief accounting officer now owns 26,829 shares of the company's stock, valued at $374,532.84. This represents a 18.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,812 shares of company stock worth $402,216. 2.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Genco Shipping & Trading
Institutional investors and hedge funds have recently made changes to their positions in the business. Banque Transatlantique SA acquired a new stake in Genco Shipping & Trading in the fourth quarter valued at $28,000. R Squared Ltd acquired a new position in Genco Shipping & Trading in the fourth quarter worth about $29,000. New Age Alpha Advisors LLC bought a new stake in Genco Shipping & Trading in the fourth quarter valued at about $56,000. GAMMA Investing LLC raised its stake 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 in the last quarter. Finally, Randolph Co Inc bought a new position in Genco Shipping & Trading during the 1st quarter worth approximately $134,000. 58.62% of the stock is currently owned by hedge funds and other institutional investors.
Genco Shipping & Trading Company Profile
(
Get Free Report)
Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.
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