Brokerages Expect Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (GNK) Will Announce Quarterly Sales of $58.10 Million

Analysts forecast that Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) (NYSE:GNK) will report $58.10 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands)’s earnings. The highest sales estimate is $62.08 million and the lowest is $56.00 million. Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) posted sales of $43.89 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.4%. The firm is scheduled to issue its next earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) will report full-year sales of $58.10 million for the current fiscal year, with estimates ranging from $182.00 million to $196.86 million. For the next financial year, analysts expect that the company will post sales of $254.64 million per share, with estimates ranging from $197.60 million to $301.81 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands).

A number of analysts recently issued reports on GNK shares. ValuEngine lowered shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Jefferies Group started coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research note on Monday, December 18th. They set a “buy” rating and a $20.00 price target on the stock. Evercore ISI started coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research note on Monday, November 20th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Noble Financial started coverage on shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in a research note on Friday, January 12th. They set a “buy” rating and a $20.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $15.86.

In other Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) news, major shareholder Cayman Gp Ltd. Ccp II sold 320,462 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $13.11, for a total transaction of $4,201,256.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 10.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Citigroup Inc. raised its stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 0.4% in the 2nd quarter. Citigroup Inc. now owns 13,652 shares of the shipping company’s stock valued at $129,000 after acquiring an additional 51 shares during the period. California State Teachers Retirement System purchased a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the 2nd quarter valued at $129,000. Teachers Advisors LLC purchased a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the 2nd quarter valued at $141,000. Cubist Systematic Strategies LLC raised its stake in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) by 9.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 16,692 shares of the shipping company’s stock valued at $158,000 after acquiring an additional 1,457 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands) in the 4th quarter valued at $163,000. 57.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of Genco Shipping & Trading Limited Ordinary Shares New (NYSE GNK) opened at $12.59 on Monday. Genco Shipping & Trading Limited Ordinary Shares New has a 1 year low of $8.47 and a 1 year high of $15.17. The stock has a market cap of $434.76, a P/E ratio of -2.45 and a beta of 0.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.23 and a current ratio of 5.23.

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About Genco Shipping & Trading Limited Ordinary Shares New (Marshall Islands)

Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company, through the ownership and operation of dry bulk carrier vessels, transports iron ores, coal, grains, steel products, and other dry-bulk cargoes. The company charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.

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