B. Riley Has Bearish Estimate for GNK Q1 Earnings

Genco Shipping & Trading Limited (NYSE:GNK - Free Report) - Stock analysts at B. Riley decreased their Q1 2025 earnings per share estimates for shares of Genco Shipping & Trading in a research note issued on Tuesday, April 29th. B. Riley analyst L. Burke now forecasts that the shipping company will earn ($0.32) per share for the quarter, down from their prior estimate of ($0.23). The consensus estimate for Genco Shipping & Trading's current full-year earnings is $0.48 per share. B. Riley also issued estimates for Genco Shipping & Trading's FY2025 earnings at ($0.29) EPS.

Genco Shipping & Trading (NYSE:GNK - Get Free Report) last posted its earnings results on Wednesday, February 19th. The shipping company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.27). Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The firm had revenue of $67.95 million for the quarter, compared to analyst estimates of $67.36 million.

GNK has been the subject of several other reports. Pareto Securities upgraded Genco Shipping & Trading to a "strong-buy" rating in a research note on Monday, March 31st. Jefferies Financial Group reduced their target price on Genco Shipping & Trading from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, Dnb Nor Markets upgraded Genco Shipping & Trading to a "strong-buy" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $23.00.

Genco Shipping & Trading Stock Performance

NYSE GNK traded up $0.10 during trading on Friday, reaching $13.54. The company's stock had a trading volume of 212,226 shares, compared to its average volume of 554,522. The firm has a 50 day moving average price of $13.19 and a 200 day moving average price of $14.47. Genco Shipping & Trading has a 12 month low of $11.20 and a 12 month high of $23.43. The firm has a market capitalization of $581.66 million, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 5.64 and a beta of 1.17. The company has a current ratio of 3.09, a quick ratio of 2.49 and a debt-to-equity ratio of 0.08.

Hedge Funds Weigh In On Genco Shipping & Trading

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in shares of Genco Shipping & Trading in the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new stake in Genco Shipping & Trading during the 4th quarter worth approximately $29,000. New Age Alpha Advisors LLC acquired a new position in Genco Shipping & Trading in the 4th quarter valued at approximately $56,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 4,096 shares during the last quarter. Finally, Randolph Co Inc acquired a new position in shares of Genco Shipping & Trading during the first quarter worth $134,000. Institutional investors and hedge funds own 58.62% of the company's stock.

Insider Activity at Genco Shipping & Trading

In related news, insider Jesper Christensen sold 13,602 shares of Genco Shipping & Trading stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $189,883.92. Following the sale, the insider now directly owns 57,322 shares of the company's stock, valued at approximately $800,215.12. The trade was a 19.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Joseph Adamo sold 6,226 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $86,914.96. Following the completion of the transaction, the chief accounting officer now directly owns 26,829 shares of the company's stock, valued at approximately $374,532.84. The trade was a 18.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,812 shares of company stock valued at $402,216 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

Genco Shipping & Trading Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 8.86%. Genco Shipping & Trading's dividend payout ratio is currently 68.57%.

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, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.