Genco Shipping & Trading (NYSE:GNK) Price Target Cut to $19.00 by Analysts at Jefferies Financial Group

Genco Shipping & Trading (NYSE:GNK) had its price target dropped by stock analysts at Jefferies Financial Group from $20.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 34.25% from the company’s previous close.

A number of other analysts have also issued reports on the company. Stifel Nicolaus lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating and decreased their price objective for the company from $26.00 to $17.00 in a research note on Wednesday, October 23rd. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Genco Shipping & Trading Stock Down 3.8 %

Shares of NYSE GNK opened at $14.15 on Thursday. Genco Shipping & Trading has a one year low of $13.51 and a one year high of $23.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.09 and a quick ratio of 2.49. The business’s fifty day moving average price is $14.30 and its 200-day moving average price is $16.12. The stock has a market capitalization of $605.18 million, a PE ratio of 8.09, a P/E/G ratio of 5.61 and a beta of 0.97.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.27). Genco Shipping & Trading had a net margin of 18.06% and a return on equity of 7.82%. The firm had revenue of $67.95 million for the quarter, compared to analysts’ expectations of $67.36 million. On average, equities research analysts anticipate that Genco Shipping & Trading will post 0.48 EPS for the current year.

Hedge Funds Weigh In On Genco Shipping & Trading

A number of institutional investors have recently added to or reduced their stakes in GNK. Banque Transatlantique SA bought a new position in Genco Shipping & Trading in the 4th quarter worth about $28,000. R Squared Ltd bought a new position in Genco Shipping & Trading in the 4th quarter worth about $29,000. New Age Alpha Advisors LLC bought a new position in Genco Shipping & Trading in the 4th quarter worth about $56,000. Quarry LP increased its stake in Genco Shipping & Trading by 535.8% in the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after acquiring an additional 3,595 shares during the last quarter. Finally, Mariner LLC bought a new position in Genco Shipping & Trading in the 4th quarter worth about $147,000. 58.62% of the stock is currently owned by institutional investors.

About Genco Shipping & Trading

Genco Shipping & Trading Ltd. is an international ship owning company, which engages in the transportation of iron ore, coal, grain, steel products, and other drybulk cargoes. The company was founded on September 27, 2004 and is headquartered in New York, NY.