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

Genco Shipping & Trading Limited (NYSE:GNK) has received an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.6667.

GNK has been the topic of several research analyst reports. Zacks Research lowered shares of Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings upgraded shares of Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Alliance Global Partners lowered shares of Genco Shipping & Trading from a “buy” rating to a “neutral” rating in a research note on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $29.00 price target on shares of Genco Shipping & Trading in a research note on Friday, May 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Genco Shipping & Trading by 33.2% in the first quarter. Bank of America Corp DE now owns 49,457 shares of the shipping company’s stock valued at $1,115,000 after purchasing an additional 12,319 shares during the period. Empowered Funds LLC increased its stake in Genco Shipping & Trading by 12.4% in the first quarter. Empowered Funds LLC now owns 226,751 shares of the shipping company’s stock valued at $5,113,000 after purchasing an additional 25,002 shares during the period. Quantinno Capital Management LP increased its stake in Genco Shipping & Trading by 104.8% in the first quarter. Quantinno Capital Management LP now owns 56,860 shares of the shipping company’s stock valued at $1,282,000 after purchasing an additional 29,098 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Genco Shipping & Trading by 56.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 286,568 shares of the shipping company’s stock valued at $6,462,000 after purchasing an additional 102,868 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Genco Shipping & Trading by 2.1% during the first quarter. First Trust Advisors LP now owns 135,166 shares of the shipping company’s stock worth $3,048,000 after acquiring an additional 2,820 shares during the period. 58.62% of the stock is currently owned by institutional investors and hedge funds.

Genco Shipping & Trading Price Performance

Genco Shipping & Trading stock opened at $24.14 on Tuesday. The company has a fifty day simple moving average of $23.90 and a 200-day simple moving average of $21.44. Genco Shipping & Trading has a 12-month low of $12.66 and a 12-month high of $27.25. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.05 billion, a P/E ratio of 63.52, a price-to-earnings-growth ratio of 3.47 and a beta of 0.97.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings results on Wednesday, May 6th. The shipping company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.07 by $0.19. Genco Shipping & Trading had a net margin of 4.38% and a return on equity of 2.49%. The firm had revenue of $114.43 million for the quarter, compared to analyst estimates of $65.73 million. During the same period last year, the business earned ($0.28) EPS. Genco Shipping & Trading’s revenue for the quarter was up 60.6% compared to the same quarter last year. Equities analysts expect that Genco Shipping & Trading will post 1.81 EPS for the current fiscal year.

Genco Shipping & Trading Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th were paid a $0.35 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.40 dividend on an annualized basis and a yield of 5.8%. Genco Shipping & Trading’s payout ratio is currently 368.42%.

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.