Jefferies Financial Group Cuts Genco Shipping & Trading (NYSE:GNK) Price Target to $19.00

Genco Shipping & Trading (NYSE:GNK) had its price target decreased by equities research analysts at Jefferies Financial Group from $20.00 to $19.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 29.98% from the company’s previous close.

Several other analysts also recently issued reports on GNK. Stifel Nicolaus downgraded Genco Shipping & Trading from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $17.00 in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report 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 MarketBeat.com, Genco Shipping & Trading presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Genco Shipping & Trading Stock Down 1.6 %

Shares of NYSE GNK opened at $14.62 on Thursday. The firm’s 50-day moving average is $14.32 and its two-hundred day moving average is $16.16. The company has a market capitalization of $625.07 million, a PE ratio of 9.31, a price-to-earnings-growth ratio of 5.69 and a beta of 0.97. Genco Shipping & Trading has a 12-month low of $13.51 and a 12-month 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.

Genco Shipping & Trading (NYSE:GNK) last issued its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.27). Genco Shipping & Trading had a return on equity of 8.46% and a net margin of 15.63%. Equities analysts anticipate that Genco Shipping & Trading will post 1.69 EPS for the current fiscal year.

Institutional Trading of Genco Shipping & Trading

A number of hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA acquired a new position in shares of Genco Shipping & Trading during the 4th quarter valued at about $28,000. R Squared Ltd acquired a new position in Genco Shipping & Trading during the fourth quarter worth approximately $29,000. New Age Alpha Advisors LLC acquired a new position in Genco Shipping & Trading during the fourth quarter worth approximately $56,000. Quarry LP raised its stake in Genco Shipping & Trading by 535.8% during the third quarter. Quarry LP now owns 4,266 shares of the shipping company’s stock worth $83,000 after purchasing an additional 3,595 shares during the period. Finally, Mariner LLC acquired a new position in shares of Genco Shipping & Trading in the 4th quarter valued at $147,000. 58.62% of the stock is owned by institutional investors and hedge funds.

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.