Genco Shipping & Trading (NYSE:GNK) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Genco Shipping & Trading Limited (NYSE:GNK) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $24.38 and traded as high as $25.96. Genco Shipping & Trading shares last traded at $25.3670, with a volume of 336,980 shares.

Analyst Ratings Changes

A number of research firms recently commented on GNK. Zacks Research lowered Genco Shipping & Trading from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings upgraded Genco Shipping & Trading from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Alliance Global Partners reissued a “neutral” rating on shares of Genco Shipping & Trading in a research note on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $29.00 target price on shares of Genco Shipping & Trading in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Genco Shipping & Trading has an average rating of “Hold” and an average target price of $23.67.

Genco Shipping & Trading Stock Down 0.6%

The firm has a market capitalization of $1.11 billion, a PE ratio of 66.76, a price-to-earnings-growth ratio of 3.68 and a beta of 0.93. 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 firm has a 50-day moving average of $24.38 and a two-hundred day moving average of $22.67.

Genco Shipping & Trading (NYSE:GNK) last issued its earnings results on Wednesday, May 6th. The shipping company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.19. Genco Shipping & Trading had a return on equity of 2.49% and a net margin of 4.38%.The business had revenue of $114.43 million during the quarter, compared to analysts’ expectations of $65.73 million. During the same quarter in the previous year, the business earned ($0.28) EPS. The company’s revenue for the quarter was up 60.6% on a year-over-year basis. On average, equities research analysts forecast that Genco Shipping & Trading Limited will post 1.81 EPS for the current 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 issued a dividend of $0.35 per share. The ex-dividend date was Monday, May 18th. This represents a $1.40 annualized dividend and a yield of 5.5%. Genco Shipping & Trading’s payout ratio is currently 368.42%.

Institutional Investors Weigh In On Genco Shipping & Trading

Several hedge funds and other institutional investors have recently modified their holdings of the stock. XY Capital Ltd bought a new position in shares of Genco Shipping & Trading in the fourth quarter valued at $425,000. Graham Capital Wealth Management LLC acquired a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $1,742,000. CSM Advisors LLC boosted its stake in shares of Genco Shipping & Trading by 18.4% during the 3rd quarter. CSM Advisors LLC now owns 351,045 shares of the shipping company’s stock worth $6,248,000 after acquiring an additional 54,575 shares in the last quarter. UBS Group AG boosted its stake in shares of Genco Shipping & Trading by 33.3% during the 4th quarter. UBS Group AG now owns 153,263 shares of the shipping company’s stock worth $2,825,000 after acquiring an additional 38,310 shares in the last quarter. Finally, Unison Advisors LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter worth $705,000. Institutional investors own 58.62% of the company’s stock.

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.