Genco Shipping & Trading (NYSE:GNK) Given Buy Rating at Jefferies Financial Group

Genco Shipping & Trading (NYSE:GNK)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Financial Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $25.00 target price on the shipping company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 43.43% from the company’s current price.

GNK has been the subject of several other research reports. Stifel Nicolaus cut shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating and lowered their price target for the stock from $26.00 to $17.00 in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Genco Shipping & Trading in a report on Wednesday, September 4th. They set a “buy” rating and a $22.00 price target for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.20.

Genco Shipping & Trading Stock Down 0.7 %

Shares of GNK stock traded down $0.12 during trading on Thursday, reaching $17.43. The company’s stock had a trading volume of 476,474 shares, compared to its average volume of 440,628. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.59 and a quick ratio of 2.94. The company has a market capitalization of $745.27 million, a price-to-earnings ratio of 11.11, a P/E/G ratio of 0.26 and a beta of 0.98. The stock’s 50-day moving average price is $17.32 and its 200 day moving average price is $19.42. Genco Shipping & Trading has a 1-year low of $13.10 and a 1-year high of $23.43.

Genco Shipping & Trading (NYSE:GNK) last announced its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $99.33 million during the quarter, compared to analysts’ expectations of $72.02 million. Genco Shipping & Trading had a net margin of 15.63% and a return on equity of 8.49%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.09) earnings per share. On average, research analysts anticipate that Genco Shipping & Trading will post 1.79 EPS for the current year.

Hedge Funds Weigh In On Genco Shipping & Trading

A number of large investors have recently bought and sold shares of the company. Foundry Partners LLC raised its position in Genco Shipping & Trading by 41.2% during the 3rd quarter. Foundry Partners LLC now owns 336,460 shares of the shipping company’s stock worth $6,561,000 after buying an additional 98,195 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Genco Shipping & Trading in the third quarter valued at about $202,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Genco Shipping & Trading by 37.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,039 shares of the shipping company’s stock valued at $839,000 after purchasing an additional 11,707 shares during the period. Empowered Funds LLC lifted its stake in shares of Genco Shipping & Trading by 5.4% in the third quarter. Empowered Funds LLC now owns 255,775 shares of the shipping company’s stock valued at $4,988,000 after purchasing an additional 12,998 shares during the period. Finally, Royce & Associates LP lifted its stake in shares of Genco Shipping & Trading by 43.1% in the third quarter. Royce & Associates LP now owns 482,687 shares of the shipping company’s stock valued at $9,412,000 after purchasing an additional 145,471 shares during the period. Hedge funds and other institutional investors own 58.62% of the company’s stock.

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.