Genco Shipping & Trading Limited (NYSE:GNK) Given Average Recommendation of “Buy” by Brokerages

Genco Shipping & Trading Limited (NYSE:GNKGet Free Report) has been given a consensus recommendation of “Buy” by the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.75.

Several analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $17.00 price objective on shares of Genco Shipping & Trading in a research note on Thursday, May 8th. Dnb Nor Markets raised shares of Genco Shipping & Trading to a “strong-buy” rating in a research note on Thursday, May 1st. Wall Street Zen lowered shares of Genco Shipping & Trading from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, Pareto Securities upgraded shares of Genco Shipping & Trading to a “strong-buy” rating in a report on Monday, March 31st.

Read Our Latest Stock Analysis on GNK

Institutional Trading of Genco Shipping & Trading

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Genco Shipping & Trading by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,838,759 shares of the shipping company’s stock worth $39,572,000 after acquiring an additional 10,193 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Genco Shipping & Trading by 6,887.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,676,967 shares of the shipping company’s stock valued at $22,404,000 after purchasing an additional 1,652,966 shares during the period. American Century Companies Inc. grew its stake in Genco Shipping & Trading by 7.4% during the first quarter. American Century Companies Inc. now owns 1,462,880 shares of the shipping company’s stock worth $19,544,000 after buying an additional 101,283 shares during the period. Townsend & Associates Inc grew its stake in Genco Shipping & Trading by 17.7% during the first quarter. Townsend & Associates Inc now owns 1,261,959 shares of the shipping company’s stock worth $15,484,000 after buying an additional 190,000 shares during the period. Finally, Geode Capital Management LLC grew its stake in Genco Shipping & Trading by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 990,357 shares of the shipping company’s stock worth $13,809,000 after buying an additional 10,260 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Trading Up 1.1%

NYSE GNK opened at $14.13 on Friday. The company has a market capitalization of $607.01 million, a PE ratio of 8.07, a P/E/G ratio of 5.64 and a beta of 1.22. The company has a fifty day moving average of $13.24 and a 200 day moving average of $13.89. Genco Shipping & Trading has a 1 year low of $11.20 and a 1 year high of $22.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49.

Genco Shipping & Trading (NYSE:GNKGet Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The shipping company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $41.64 million during the quarter, compared to analyst estimates of $43.49 million. Genco Shipping & Trading had a return on equity of 7.82% and a net margin of 18.06%. The company’s revenue was down 39.3% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. Research analysts forecast that Genco Shipping & Trading will post 0.48 earnings per share for the current year.

Genco Shipping & Trading Announces Dividend

The company also recently announced a dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 23rd were paid a $0.15 dividend. This represents a dividend yield of 4.28%. The ex-dividend date of this dividend was Thursday, May 22nd. Genco Shipping & Trading’s dividend payout ratio (DPR) is presently 57.69%.

About Genco Shipping & Trading

(Get Free Report

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, bauxite, steel products, and other drybulk cargoes. It operates through the Major Bulk and Minor Bulk segments. The Major Bulk segment focuses on Capesize vessels. The Minor Bulk segment consists of Ultramax and Supramax vessels.

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Analyst Recommendations for Genco Shipping & Trading (NYSE:GNK)

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