Genco Shipping & Trading Limited (NYSE:GNK) Receives Consensus Rating of “Buy” from Analysts

Shares of Genco Shipping & Trading Limited (NYSE:GNK) have received an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.00.

A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price objective on Genco Shipping & Trading from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 20th. StockNews.com lowered Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Pareto Securities raised Genco Shipping & Trading to a “strong-buy” rating in a research note on Monday, March 31st.

Genco Shipping & Trading Stock Down 7.8 %

GNK opened at $11.68 on Monday. Genco Shipping & Trading has a 12 month low of $11.51 and a 12 month high of $23.43. The business has a 50-day moving average of $14.05 and a two-hundred day moving average of $15.38. 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 stock has a market capitalization of $499.41 million, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 5.64 and a beta of 0.99.

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

Genco Shipping & Trading Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.27%. The ex-dividend date was Tuesday, March 11th. Genco Shipping & Trading’s dividend payout ratio is presently 68.57%.

Insider Transactions at Genco Shipping & Trading

In other Genco Shipping & Trading news, CAO Joseph Adamo sold 6,226 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $13.96, for a total value of $86,914.96. Following the transaction, the chief accounting officer now owns 26,829 shares in the company, valued at $374,532.84. The trade was a 18.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jesper Christensen sold 13,602 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $13.96, for a total transaction of $189,883.92. Following the completion of the transaction, the insider now directly owns 57,322 shares of the company’s stock, valued at approximately $800,215.12. The trade was a 19.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,812 shares of company stock valued at $402,216 over the last quarter. Company insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Banque Transatlantique SA purchased a new stake in Genco Shipping & Trading during the 4th quarter worth approximately $28,000. R Squared Ltd bought a new stake in shares of Genco Shipping & Trading in the fourth quarter worth $29,000. New Age Alpha Advisors LLC bought a new stake in shares of Genco Shipping & Trading in the fourth quarter worth $56,000. Quarry LP boosted its stake in Genco Shipping & Trading by 535.8% during the 3rd quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock valued at $83,000 after acquiring an additional 3,595 shares during the last quarter. Finally, Mariner LLC bought a new position in Genco Shipping & Trading during the 4th quarter valued at $147,000. Institutional investors and hedge funds own 58.62% of the company’s stock.

Genco Shipping & Trading Company Profile

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.