Genco Shipping & Trading (NYSE:GNK) Cut to “Neutral” at Alliance Global Partners

Alliance Global Partners cut shares of Genco Shipping & Trading (NYSE:GNK) from a buy rating to a neutral rating in a research report sent to investors on Thursday, MarketBeat.com reports.

A number of other brokerages have also recently issued reports on GNK. Zacks Research raised Genco Shipping & Trading from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 17th. Wall Street Zen lowered Genco Shipping & Trading from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Genco Shipping & Trading in a report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Genco Shipping & Trading has a consensus rating of “Buy” and a consensus price target of $21.00.

Genco Shipping & Trading Trading Up 1.6%

Shares of GNK stock opened at $23.94 on Thursday. Genco Shipping & Trading has a 52-week low of $11.20 and a 52-week high of $24.11. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -217.57, a P/E/G ratio of 5.49 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.98 and a current ratio of 2.39. The firm has a fifty day moving average of $19.94 and a 200-day moving average of $18.28.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Tuesday, February 17th. The shipping company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. Genco Shipping & Trading had a negative net margin of 1.28% and a negative return on equity of 0.12%. The business had revenue of $109.92 million for the quarter, compared to analyst estimates of $78.52 million. During the same period in the previous year, the business earned $0.29 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that Genco Shipping & Trading will post 0.48 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, March 11th. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.15. This represents a $2.00 annualized dividend and a dividend yield of 8.4%. Genco Shipping & Trading’s dividend payout ratio (DPR) is currently -545.45%.

Insider Activity

In related news, CAO Joseph Adamo sold 3,227 shares of Genco Shipping & Trading stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $23.27, for a total value of $75,092.29. Following the completion of the transaction, the chief accounting officer directly owned 30,772 shares of the company’s stock, valued at $716,064.44. The trade was a 9.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jesper Christensen sold 8,260 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $23.27, for a total transaction of $192,210.20. Following the sale, the insider directly owned 78,311 shares in the company, valued at approximately $1,822,296.97. This represents a 9.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 17,719 shares of company stock worth $412,321. 2.37% of the stock is owned by corporate insiders.

Institutional Trading of Genco Shipping & Trading

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in Genco Shipping & Trading by 82.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,942 shares of the shipping company’s stock worth $25,000 after buying an additional 876 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Genco Shipping & Trading during the third quarter worth $30,000. Advisory Services Network LLC acquired a new position in shares of Genco Shipping & Trading during the third quarter valued at $30,000. Strengthening Families & Communities LLC bought a new position in Genco Shipping & Trading in the fourth quarter valued at about $31,000. Finally, Kemnay Advisory Services Inc. bought a new position in Genco Shipping & Trading in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading News Roundup

Here are the key news stories impacting Genco Shipping & Trading this week:

• Positive Sentiment: Management boosted the quarterly dividend to $0.50 (previously $0.15) and signaled a larger Q1 payout after time‑charter equivalent (TCE) rates rose more than 50% year‑over‑year amid fleet expansion — this materially improves cash return expectations. Read More.
• Positive Sentiment: Q4 results beat consensus: EPS $0.39 (vs. ~$0.35 est.) and revenue roughly $109.9M (vs. est. ~$78.5M), with year‑over‑year revenue growth — stronger earnings and cash flow help justify the higher dividend and support near‑term fundamentals. Read More.
• Positive Sentiment: Zacks upgraded GNK from Hold to Strong Buy, which can attract momentum buyers following the earnings/dividend news. Read More.
• Neutral Sentiment: Market technicals: GNK has hit a new 52‑week high post‑earnings — a momentum signal but not a change to long‑term fundamentals. Read More.
• Neutral Sentiment: Investors can review the Q4 earnings call transcript and slides for details on forward TCE outlook, fleet additions and capex guidance to assess sustainability of higher payouts. Read More.
• Negative Sentiment: Alliance Global Partners downgraded GNK from Buy to Neutral, citing reasons spelled out in their note — this can limit further upside from institutional/retail buyers. Read More.
• Negative Sentiment: Insider selling: several senior executives (CAO, CFO and others) sold blocks of shares at ~ $23.27, trimming holdings — raises short‑term governance/insider‑sentiment questions even though insiders remain significant holders. Read More.

Genco Shipping & Trading Company Profile

Genco Shipping & Trading Limited is a leading global owner and operator of drybulk vessels, providing seaborne transportation services for major commodities such as iron ore, coal, grain and fertilizers. The company’s fleet comprises Capesize, Panamax and Supramax vessels, which are chartered to a broad base of international charterers under both spot and period contracts. Genco’s focus on modern, fuel-efficient tonnage supports reliable cargo delivery across a variety of trade routes and market conditions.

In addition to vessel ownership and operation, Genco offers ship management, maintenance and technical support services designed to maximize fleet performance and safety.