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

5 Wall Street equities research 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 equities research analysts is that investors should "buy" GNK shares.
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5 equities research analysts have issued 12 month price objectives for Genco Shipping & Trading's shares. Their GNK share price forecasts range from $20.00 to $27.00. On average, they expect the company's share price to reach $23.20 in the next twelve months. This suggests a possible upside of 56.4% from the stock's current price.
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Genco Shipping & Trading's stock was trading at $16.00 at the beginning of the year. Since then, GNK stock has decreased by 7.3% and is now trading at $14.83.
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Genco Shipping & Trading saw a decrease in short interest during the month of November. As of November 15th, there was short interest totaling 1,790,000 shares, a decrease of 16.0% from the October 31st total of 2,130,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 4.5% of the company's stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, February 23rd 2023.
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Genco Shipping & Trading Limited (NYSE:GNK) issued its earnings results on Wednesday, November, 3rd. The shipping company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The shipping company had revenue of $117.46 million for the quarter, compared to the consensus estimate of $103.41 million. Genco Shipping & Trading had a trailing twelve-month return on equity of 22.98% and a net margin of 37.21%. During the same quarter last year, the company earned $0.03 earnings per share.

Genco Shipping & Trading announced a quarterly dividend on Tuesday, November 8th. Shareholders of record on Monday, November 21st will be paid a dividend of $0.78 per share on Monday, November 28th. This represents a $3.12 annualized dividend and a yield of 21.04%. The ex-dividend date is Friday, November 18th. This is a boost 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 21.33%. GNK has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. 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 109.09% 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 variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (6.80%), Dimensional Fund Advisors LP (6.28%), State Street Corp (3.66%), Vanguard Group Inc. (2.58%), Renaissance Technologies LLC (1.92%) and First Trust Advisors LP (1.56%). 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 $14.83.

Genco Shipping & Trading (NYSE:GNK) has a market capitalization of $627.75 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.