Genco Shipping & Trading Limited (NYSE:GNK – Get Rating) has earned an average rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $29.00.
Several research analysts recently weighed in on the company. Clarkson Capital restated a “buy” rating on shares of Genco Shipping & Trading in a research note on Tuesday, June 14th. StockNews.com cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd. Jefferies Financial Group began coverage on Genco Shipping & Trading in a research note on Wednesday, April 27th. They issued a “buy” rating for the company. Finally, B. Riley boosted their price objective on Genco Shipping & Trading from $27.00 to $31.00 in a research note on Friday, May 6th.
In related news, CEO John C. Wobensmith sold 45,000 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $25.15, for a total value of $1,131,750.00. Following the transaction, the chief executive officer now owns 399,099 shares of the company’s stock, valued at $10,037,339.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Wobensmith sold 100,000 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $25.14, for a total value of $2,514,000.00. Following the completion of the transaction, the chief executive officer now directly owns 399,099 shares in the company, valued at approximately $10,033,348.86. The disclosure for this sale can be found here. Insiders have sold 148,500 shares of company stock worth $3,732,515 over the last 90 days. 2.50% of the stock is owned by insiders.
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Several hedge funds have recently modified their holdings of GNK. First Trust Advisors LP acquired a new stake in shares of Genco Shipping & Trading during the first quarter worth about $10,469,000. Victory Capital Management Inc. boosted its stake in shares of Genco Shipping & Trading by 1,177.9% during the first quarter. Victory Capital Management Inc. now owns 441,690 shares of the shipping company’s stock worth $9,730,000 after buying an additional 407,125 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Genco Shipping & Trading during the fourth quarter worth about $5,317,000. Cubist Systematic Strategies LLC boosted its stake in shares of Genco Shipping & Trading by 1,275.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 244,687 shares of the shipping company’s stock worth $3,915,000 after buying an additional 226,901 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Genco Shipping & Trading by 454.3% during the first quarter. Invesco Ltd. now owns 274,154 shares of the shipping company’s stock worth $6,476,000 after buying an additional 224,698 shares during the period. 75.90% of the stock is currently owned by institutional investors.
NYSE:GNK opened at $18.10 on Friday. The firm has a market capitalization of $762.01 million, a price-to-earnings ratio of 3.49 and a beta of 0.97. Genco Shipping & Trading has a 1 year low of $13.21 and a 1 year high of $27.15. The business has a 50 day simple moving average of $22.26 and a 200-day simple moving average of $20.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.78 and a quick ratio of 2.16.
Genco Shipping & Trading (NYSE:GNK – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The shipping company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). The business had revenue of $97.76 million for the quarter, compared to the consensus estimate of $95.11 million. Genco Shipping & Trading had a return on equity of 25.50% and a net margin of 37.21%. As a group, analysts expect that Genco Shipping & Trading will post 4.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 24th. Shareholders of record on Monday, May 16th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 17.46%. This is a boost from Genco Shipping & Trading’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, May 13th. Genco Shipping & Trading’s dividend payout ratio is 60.89%.
Genco Shipping & Trading Company Profile (Get Rating)
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns and operates dry bulk carrier vessels to transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.
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