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 year. 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 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.
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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.
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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.

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

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.

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.

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.

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 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.
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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 $17.64.

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.

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.