Genco Shipping & Trading Limited (NYSE:GNK) Given Consensus Rating of “Moderate Buy” by Analysts

Genco Shipping & Trading Limited (NYSE:GNK) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $26.75.

GNK has been the topic of several research reports. B. Riley increased their price target on shares of Genco Shipping & Trading from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Stifel Nicolaus raised their target price on shares of Genco Shipping & Trading from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, April 19th. Alliance Global Partners raised their target price on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the company a “buy” rating in a report on Monday, July 1st. Jefferies Financial Group raised their target price on shares of Genco Shipping & Trading from $26.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, StockNews.com raised shares of Genco Shipping & Trading from a “sell” rating to a “hold” rating in a report on Friday, May 10th.

Genco Shipping & Trading Stock Down 0.6 %

Shares of GNK opened at $19.56 on Wednesday. The stock has a market capitalization of $836.39 million, a PE ratio of 326.00 and a beta of 0.96. Genco Shipping & Trading has a 1 year low of $12.65 and a 1 year high of $23.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.94 and a current ratio of 3.72. The company’s 50-day simple moving average is $21.30 and its 200-day simple moving average is $20.29.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, May 8th. The shipping company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.03. The business had revenue of $117.44 million for the quarter, compared to analysts’ expectations of $77.31 million. Genco Shipping & Trading had a net margin of 0.81% and a return on equity of 5.15%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. Analysts forecast that Genco Shipping & Trading will post 2.27 earnings per share for the current fiscal year.

Genco Shipping & Trading Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 22nd were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 8.59%. This is a positive change from Genco Shipping & Trading’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, May 21st. Genco Shipping & Trading’s dividend payout ratio (DPR) is 2,800.00%.

Insider Activity at Genco Shipping & Trading

In related news, Director Arthur L. Regan sold 1,400 shares of Genco Shipping & Trading stock in a transaction on Monday, May 13th. The shares were sold at an average price of $22.86, for a total value of $32,004.00. Following the transaction, the director now directly owns 104,414 shares in the company, valued at approximately $2,386,904.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Genco Shipping & Trading

A number of hedge funds and other institutional investors have recently bought and sold shares of GNK. Gladius Capital Management LP acquired a new stake in Genco Shipping & Trading in the fourth quarter valued at $37,000. CWM LLC lifted its holdings in Genco Shipping & Trading by 109.5% in the second quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock valued at $41,000 after acquiring an additional 998 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Genco Shipping & Trading during the 4th quarter worth $126,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Genco Shipping & Trading by 72.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,147 shares of the shipping company’s stock worth $152,000 after buying an additional 3,838 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of Genco Shipping & Trading by 236.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 8,536 shares of the shipping company’s stock worth $174,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Company Profile

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