Brokerages Set Genco Shipping & Trading Limited (NYSE:GNK) PT at $25.80

Genco Shipping & Trading Limited (NYSE:GNK) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $25.80.

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Genco Shipping & Trading in a report on Wednesday, September 4th. They set a “buy” rating and a $22.00 price target on the stock. Alliance Global Partners raised their price objective on shares of Genco Shipping & Trading from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, July 1st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GNK. CWM LLC grew its position in Genco Shipping & Trading by 109.5% in the second quarter. CWM LLC now owns 1,909 shares of the shipping company’s stock worth $41,000 after buying an additional 998 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Genco Shipping & Trading in the second quarter worth approximately $82,000. Mark Sheptoff Financial Planning LLC acquired a new position in Genco Shipping & Trading in the fourth quarter worth approximately $126,000. nVerses Capital LLC purchased a new position in Genco Shipping & Trading during the 2nd quarter worth approximately $136,000. Finally, Banque Cantonale Vaudoise grew its position in 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 purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Stock Performance

GNK opened at $17.72 on Thursday. The business’s 50 day moving average is $18.25 and its 200-day moving average is $20.19. The stock has a market cap of $757.67 million, a PE ratio of 295.33, a price-to-earnings-growth ratio of 0.24 and a beta of 0.95. The company has a current ratio of 3.59, a quick ratio of 2.94 and a debt-to-equity ratio of 0.10. Genco Shipping & Trading has a twelve month low of $12.65 and a twelve month high of $23.43.

Genco Shipping & Trading (NYSE:GNK) last released its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $74.86 million. Genco Shipping & Trading had a return on equity of 6.11% and a net margin of 3.59%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, analysts predict that Genco Shipping & Trading will post 2.1 earnings per share for the current year.

Genco Shipping & Trading Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were given a $0.34 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.36 annualized dividend and a yield of 7.67%. Genco Shipping & Trading’s dividend payout ratio (DPR) is 2,266.67%.

About Genco Shipping & Trading

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.