Brokerages Set Genco Shipping & Trading Limited (NYSE:GNK) PT at $25.00

Shares of Genco Shipping & Trading Limited (NYSE:GNK - Get Free Report) have received an average recommendation of "Moderate Buy" from the four research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $25.00.

GNK has been the topic of a number of recent analyst reports. TheStreet raised shares of Genco Shipping & Trading from a "c" rating to a "b-" rating in a research report on Thursday, February 22nd. B. Riley boosted their price objective on shares of Genco Shipping & Trading from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday. StockNews.com lowered shares of Genco Shipping & Trading from a "hold" rating to a "sell" rating in a research note on Thursday, April 18th. Stifel Nicolaus boosted their price objective on shares of Genco Shipping & Trading from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group lifted their target price on shares of Genco Shipping & Trading from $26.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday.

Genco Shipping & Trading Price Performance

Shares of Genco Shipping & Trading stock traded up $0.12 during midday trading on Friday, reaching $22.83. The company had a trading volume of 825,988 shares, compared to its average volume of 718,639. The company has a current ratio of 4.46, a quick ratio of 3.70 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $976.03 million, a price-to-earnings ratio of -73.65 and a beta of 1.11. The stock has a fifty day simple moving average of $20.82 and a 200 day simple moving average of $17.72. Genco Shipping & Trading has a 1-year low of $12.39 and a 1-year high of $23.43.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.03. Genco Shipping & Trading had a negative net margin of 3.35% and a positive return on equity of 3.10%. The firm had revenue of $117.44 million for the quarter, compared to analysts' expectations of $77.31 million. During the same period last year, the firm earned $0.06 earnings per share. The business's revenue for the quarter was up 24.4% on a year-over-year basis. As a group, equities research analysts forecast that Genco Shipping & Trading will post 1.93 earnings per share for the current year.

Genco Shipping & Trading Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd will be issued a $0.42 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $1.68 dividend on an annualized basis and a yield of 7.36%. This is an increase from Genco Shipping & Trading's previous quarterly dividend of $0.41. Genco Shipping & Trading's payout ratio is currently -529.03%.

Insider Buying and Selling at Genco Shipping & Trading

In other news, CEO John C. Wobensmith sold 35,660 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $706,068.00. Following the completion of the sale, the chief executive officer now owns 466,684 shares of the company's stock, valued at approximately $9,240,343.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO John C. Wobensmith sold 35,660 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $19.80, for a total transaction of $706,068.00. Following the completion of the transaction, the chief executive officer now directly owns 466,684 shares in the company, valued at approximately $9,240,343.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Joseph Adamo sold 1,396 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.40, for a total transaction of $28,478.40. Following the transaction, the chief accounting officer now owns 17,994 shares of the company's stock, valued at $367,077.60. The disclosure for this sale can be found here. Insiders sold 62,496 shares of company stock valued at $1,238,678 in the last quarter. Company insiders own 2.08% of the company's stock.

Hedge Funds Weigh In On Genco Shipping & Trading

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNK. SummerHaven Investment Management LLC boosted its stake in shares of Genco Shipping & Trading by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 53,061 shares of the shipping company's stock valued at $880,000 after purchasing an additional 696 shares during the last quarter. Swiss National Bank boosted its stake in Genco Shipping & Trading by 1.1% during the third quarter. Swiss National Bank now owns 93,400 shares of the shipping company's stock worth $1,307,000 after acquiring an additional 1,000 shares in the last quarter. Barclays PLC boosted its stake in Genco Shipping & Trading by 2.4% during the third quarter. Barclays PLC now owns 44,792 shares of the shipping company's stock worth $627,000 after acquiring an additional 1,048 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Genco Shipping & Trading by 10.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 13,092 shares of the shipping company's stock worth $183,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Genco Shipping & Trading by 16.9% during the fourth quarter. Victory Capital Management Inc. now owns 13,251 shares of the shipping company's stock worth $220,000 after acquiring an additional 1,915 shares in the last quarter. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of drybulk cargoes worldwide. The company owns and operates dry bulk vessels to transports iron ore, grains, coal, steel products, and other drybulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.