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

$16.08
-1.56 (-8.84%)
(As of 08/15/2022 02:39 PM ET)
Add
Compare
Today's Range
$15.69
$16.67
50-Day Range
$16.19
$26.93
52-Week Range
$13.21
$27.15
Volume
35,766 shs
Average Volume
1.08 million shs
Market Capitalization
$679.88 million
P/E Ratio
2.90
Dividend Yield
17.91%
Price Target
$28.20

Genco Shipping & Trading MarketRank™ Forecast

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
74.5% Upside
$28.20 Price Target
Short Interest
Healthy
4.20% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.04mentions of Genco Shipping & Trading in the last 14 days
Based on 11 Articles This Week
Insider Trading
Selling Shares
$4.17 M Sold Last Quarter
Proj. Earnings Growth
-4.22%
From $4.50 to $4.31 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.88 out of 5 stars

Transportation Sector

13th out of 128 stocks

Deep Sea Foreign Transportation Of Freight Industry

9th out of 30 stocks

GNK stock logo

About Genco Shipping & Trading (NYSE:GNK) Stock

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns and operates dry bulk carrier vessels to transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities. As of December 31, 2021, the company fleet consisted of 44 dry bulk carriers, including 17 Capesize, 15 Ultramax, and 12 Supramax with an aggregate capacity of approximately 4,636,000 deadweight tons. Genco Shipping & Trading Limited was incorporated in 2004 and is headquartered in New York, New York.

Genco Shipping & Trading Stock Performance

GNK Stock opened at $17.64 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $745.84 million, a price-to-earnings ratio of 3.18 and a beta of 0.91. Genco Shipping & Trading has a 12 month low of $13.21 and a 12 month high of $27.15. The firm has a 50 day moving average of $19.14 and a two-hundred day moving average of $20.62.

Genco Shipping & Trading Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Tuesday, August 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 11.34%. The ex-dividend date is Monday, August 15th. Genco Shipping & Trading's dividend payout ratio (DPR) is 57.04%.

Analyst Ratings Changes

GNK has been the subject of several analyst reports. Jefferies Financial Group started coverage on Genco Shipping & Trading in a research note on Wednesday, July 20th. They issued a "buy" rating and a $25.00 price objective for the company. B. Riley raised their price objective on shares of Genco Shipping & Trading from $27.00 to $31.00 in a research report on Friday, May 6th. Alliance Global Partners initiated coverage on shares of Genco Shipping & Trading in a research report on Wednesday, August 3rd. They issued a "buy" rating and a $29.00 target price for the company. Clarkson Capital reissued a "buy" rating on shares of Genco Shipping & Trading in a research report on Tuesday, June 14th. Finally, StockNews.com cut shares of Genco Shipping & Trading from a "buy" rating to a "hold" rating in a research report on Friday, August 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Genco Shipping & Trading has a consensus rating of "Moderate Buy" and an average price target of $28.20.

Insider Transactions at Genco Shipping & Trading

In related news, insider Robert E. Hughes sold 3,500 shares of the business's stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $24.79, for a total value of $86,765.00. Following the sale, the insider now owns 742 shares in the company, valued at approximately $18,394.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Robert E. Hughes sold 3,500 shares of Genco Shipping & Trading stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $24.79, for a total transaction of $86,765.00. Following the sale, the insider now directly owns 742 shares of the company's stock, valued at $18,394.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cayman Gp Ltd. Ccp II sold 25,000 shares of the company's stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $17.50, for a total value of $437,500.00. Following the completion of the transaction, the insider now directly owns 30,802 shares in the company, valued at approximately $539,035. The disclosure for this sale can be found here. Insiders have sold 173,575 shares of company stock valued at $4,171,336 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

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GNK Stock News Headlines

Genco Shipping & Trading (NYSE:GNK) Stock Price Down 9.5%
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GNK Company Calendar

Last Earnings
11/03/2021
Ex-Dividend for 5/24 Dividend
5/13/2022
Dividend Payable
5/24/2022
Today
8/15/2022
Ex-Dividend for 8/23 Dividend
8/15/2022
Dividend Payable
8/23/2022
Next Earnings (Estimated)
11/02/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Deep sea foreign transportation of freight
Sub-Industry
N/A
Previous Symbol
OTCBB:GSKNF
Employees
1,027
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$28.20
High Stock Price Forecast
$31.00
Low Stock Price Forecast
$25.00
Forecasted Upside/Downside
+75.4%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
5 Analysts

Profitability

Net Income
$182.01 million
Pretax Margin
38.78%

Debt

Sales & Book Value

Annual Sales
$547.13 million
Cash Flow
$5.19 per share
Book Value
$21.86 per share

Miscellaneous

Free Float
41,224,000
Market Cap
$679.88 million
Optionable
Not Optionable
Beta
0.91














GNK Stock - Frequently Asked Questions

Should I buy or sell Genco Shipping & Trading stock right now?

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Genco Shipping & Trading in the last year. There are currently 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" GNK shares.
View GNK analyst ratings
or view top-rated stocks.

What is Genco Shipping & Trading's stock price forecast for 2022?

5 brokerages have issued 12-month target prices for Genco Shipping & Trading's shares. Their GNK share price forecasts range from $25.00 to $31.00. On average, they anticipate the company's stock price to reach $28.20 in the next year. This suggests a possible upside of 59.9% from the stock's current price.
View analysts price targets for GNK
or view top-rated stocks among Wall Street analysts.

How have GNK shares performed in 2022?

Genco Shipping & Trading's stock was trading at $16.00 on January 1st, 2022. Since then, GNK shares have increased by 10.3% and is now trading at $17.64.
View the best growth stocks for 2022 here
.

Are investors shorting Genco Shipping & Trading?

Genco Shipping & Trading saw a increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,740,000 shares, an increase of 15.2% from the July 15th total of 1,510,000 shares. Based on an average daily trading volume, of 1,120,000 shares, the short-interest ratio is currently 1.6 days. Currently, 4.2% of the shares of the company are sold short.
View Genco Shipping & Trading's Short Interest
.

When is Genco Shipping & Trading's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 2nd 2022.
View our GNK earnings forecast
.

How were Genco Shipping & Trading's earnings last quarter?

Genco Shipping & Trading Limited (NYSE:GNK) posted its quarterly earnings results on Wednesday, November, 3rd. The shipping company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. The shipping company earned $117.46 million during the quarter, compared to the consensus estimate of $103.41 million. Genco Shipping & Trading had a trailing twelve-month return on equity of 25.97% and a net margin of 38.70%. During the same period last year, the business earned $0.03 EPS.

How often does Genco Shipping & Trading pay dividends? What is the dividend yield for Genco Shipping & Trading?

Genco Shipping & Trading announced a quarterly dividend on Wednesday, August 3rd. Shareholders of record on Tuesday, August 16th will be paid a dividend of $0.50 per share on Tuesday, August 23rd. This represents a $2.00 annualized dividend and a dividend yield of 11.34%. The ex-dividend date of this dividend is Monday, August 15th.
Read our dividend analysis for GNK
.

Is Genco Shipping & Trading a good dividend stock?

Genco Shipping & Trading (NYSE:GNK) pays an annual dividend of $3.16 per share and currently has a dividend yield of 17.91%. GNK has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 57.04%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GNK will have a dividend payout ratio of 73.32% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GNK.

What is Nick Mackenzie's approval rating as Genco Shipping & Trading's CEO?

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.

What other stocks do shareholders of Genco Shipping & Trading own?

What is Genco Shipping & Trading's stock symbol?

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

Who are Genco Shipping & Trading's major shareholders?

Genco Shipping & Trading's stock is owned by a number of retail and institutional investors. Top institutional shareholders include FMR LLC (5.93%), Renaissance Technologies LLC (1.83%), Loomis Sayles & Co. L P (1.77%), Victory Capital Management Inc. (1.38%), UBS Group AG (0.89%) and Northern Trust Corp (0.78%). Insiders that own company stock include Apollo Management Holdings Gp,, Apostolos Zafolias, Cayman Gp Ltd Ccp II, John C Wobensmith, Joseph Adamo, Robert E Hughes and Strategic Value Partners, Llc.
View institutional ownership trends
.

How do I buy shares of Genco Shipping & Trading?

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.
Compare Top Brokerages Here.

What is Genco Shipping & Trading's stock price today?

One share of GNK stock can currently be purchased for approximately $17.64.

How much money does Genco Shipping & Trading make?

Genco Shipping & Trading (NYSE:GNK) has a market capitalization of $745.84 million and generates $547.13 million in revenue each year. The shipping company earns $182.01 million in net income (profit) each year or $5.54 on an earnings per share basis.

How many employees does Genco Shipping & Trading have?

The company employs 1,027 workers across the globe.

How can I contact Genco Shipping & Trading?

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.

This page (NYSE:GNK) was last updated on 8/15/2022 by MarketBeat.com Staff

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