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

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Genco Shipping & Trading in the last twelve months. There are currently 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" GNK shares.
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3 analysts have issued twelve-month price targets for Genco Shipping & Trading's stock. Their GNK share price forecasts range from $20.00 to $31.00. On average, they expect the company's stock price to reach $26.67 in the next year. This suggests a possible upside of 120.2% 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 24.3% and is now trading at $12.11.
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Genco Shipping & Trading saw a decrease in short interest in the month of August. As of August 31st, there was short interest totaling 1,610,000 shares, a decrease of 13.4% from the August 15th total of 1,860,000 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is currently 1.5 days. Approximately 4.2% of the company's shares are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 2nd 2022.
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Genco Shipping & Trading Limited (NYSE:GNK) posted its earnings results on Wednesday, August, 3rd. The shipping company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.02. The shipping company had revenue of $105.30 million for the quarter, compared to the consensus estimate of $102.83 million. Genco Shipping & Trading had a net margin of 38.70% and a trailing twelve-month return on equity of 25.97%.

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 dividend on an annualized basis and a dividend yield of 16.52%. The ex-dividend date is Monday, August 15th.
Read our dividend analysis for GNK.

Genco Shipping & Trading (NYSE:GNK) pays an annual dividend of $2.00 per share and currently has a dividend yield of 15.86%. GNK has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 36.10%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, GNK will have a dividend payout ratio of 46.40% 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 variety of institutional and retail investors. Top institutional investors include FMR LLC (5.93%), State Street Corp (3.08%), Renaissance Technologies LLC (1.83%), Loomis Sayles & Co. L P (1.77%), Ion Asset Management Ltd. (1.63%) and Goldman Sachs Group Inc. (1.52%). 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 $12.11.

Genco Shipping & Trading (NYSE:GNK) has a market capitalization of $512.02 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.