Genco Shipping & Trading - GNK Stock Forecast, Price & News

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Genco Shipping & Trading in the last twelve months. There are currently 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" GNK shares.
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5 Wall Street research analysts have issued 12 month price objectives for Genco Shipping & Trading's stock. Their GNK share price forecasts range from $20.00 to $27.00. On average, they predict the company's share price to reach $23.20 in the next year. This suggests a possible upside of 30.3% from the stock's current price.
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Genco Shipping & Trading's stock was trading at $15.36 on January 1st, 2023. Since then, GNK shares have increased by 16.0% and is now trading at $17.81.
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Genco Shipping & Trading saw a increase in short interest during the month of January. As of January 15th, there was short interest totaling 2,510,000 shares, an increase of 47.6% from the December 31st total of 1,700,000 shares. Based on an average trading volume of 919,400 shares, the days-to-cover ratio is presently 2.7 days. Currently, 6.3% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 22nd 2023.
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Genco Shipping & Trading will be holding an earnings conference call on Thursday, February 23rd at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 877-674-7070 with passcode "378900".

Genco Shipping & Trading Limited (NYSE:GNK) posted its earnings results on Wednesday, November, 9th. The shipping company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.12. The shipping company earned $96.47 million during the quarter, compared to analysts' expectations of $91.19 million. Genco Shipping & Trading had a net margin of 37.21% and a trailing twelve-month return on equity of 22.98%.

Genco Shipping & Trading declared a quarterly dividend on Tuesday, November 8th. Shareholders of record on Monday, November 21st will be given a dividend of $0.78 per share on Monday, November 28th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 17.52%. The ex-dividend date is Friday, November 18th. This is an increase from the stock's previous quarterly dividend of $0.50.
Read our dividend analysis for GNK.

Genco Shipping & Trading (NYSE:GNK) pays an annual dividend of $3.12 per share and currently has a dividend yield of 17.20%. GNK has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 60.58%. This payout ratio is at a healthy, sustainable level, below 75%. Based on EPS estimates, GNK will have a dividend payout ratio of 121.88% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for GNK.

89 employees have rated Genco Shipping & Trading Chief Executive Officer Nick Mackenzie on Glassdoor.com. Nick Mackenzie has an approval rating of 83% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Genco Shipping & Trading investors own include Pennsylvania Real Estate Investment Trust (PEI), DHT (DHT), Gran Tierra Energy (GTE), Aeterna Zentaris (AEZS), Golar LNG Partners (GMLP), Hallador Energy (HNRG), Washington Prime Group (WPG), Bionano Genomics (BNGO), Matinas BioPharma (MTNB) and CNBX Pharmaceuticals (CNBX).

Genco Shipping & Trading trades on the New York Stock Exchange (NYSE) under the ticker symbol "GNK."

Genco Shipping & Trading's stock is owned by a number of retail and institutional investors. Top institutional investors include Gratus Capital LLC (1.06%), Euclidean Technologies Management LLC (0.31%), Mraz Amerine & Associates Inc. (0.21%), Jenkins Wealth (0.17%), AE Wealth Management LLC (0.13%) and SummerHaven Investment Management LLC (0.11%). Insiders that own company stock include Apollo Management Holdings Gp,, Apostolos Zafolias, Arthur L Regan, Cayman Gp Ltd Ccp II, John C Wobensmith, Joseph Adamo, Robert E Hughes and Strategic Value Partners, Llc.
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Shares of GNK stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GNK stock can currently be purchased for approximately $17.81.

Genco Shipping & Trading (NYSE:GNK) has a market capitalization of $753.90 million and generates $547.13 million in revenue each year. The shipping company earns $182.01 million in net income (profit) each year or $5.15 on an earnings per share basis.

The company employs 1,027 workers across the globe.

Genco Shipping & Trading's mailing address is 299 Park Avenue 12th Floor, NEW YORK NY, 10171. The official website for the company is www.gencoshipping.com. The shipping company can be reached via phone at (646) 443-8550, via email at finance@gencoshipping.com, or via fax at 646-443-8551.