Genco Shipping & Trading (NYSE:GNK) Announces Quarterly Earnings Results

Genco Shipping & Trading (NYSE:GNK) issued its earnings results on Wednesday. The shipping company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.27), Zacks reports. Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%.

Genco Shipping & Trading Stock Down 1.6 %

NYSE GNK traded down $0.23 on Wednesday, reaching $14.62. The company had a trading volume of 796,045 shares, compared to its average volume of 429,983. The stock has a market capitalization of $625.07 million, a P/E ratio of 9.31, a P/E/G ratio of 5.60 and a beta of 0.97. The company’s fifty day moving average is $14.34 and its 200 day moving average is $16.19. Genco Shipping & Trading has a 52-week low of $13.51 and a 52-week high of $23.43. The company has a quick ratio of 2.49, a current ratio of 3.09 and a debt-to-equity ratio of 0.08.

Analyst Upgrades and Downgrades

GNK has been the subject of several recent research reports. StockNews.com downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Stifel Nicolaus cut Genco Shipping & Trading from a “buy” rating to a “hold” rating and cut their price target for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $25.00 price target on shares of Genco Shipping & Trading in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

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.