Genco Shipping & Trading (NYSE:GNK – Get Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other research analysts also recently weighed in on GNK. B. Riley raised their price target on shares of Genco Shipping & Trading from $27.00 to $31.00 in a report on Friday, May 6th. Jefferies Financial Group initiated coverage on shares of Genco Shipping & Trading in a report on Wednesday, April 27th. They set a “buy” rating on the stock. Finally, Clarkson Capital restated a “buy” rating on shares of Genco Shipping & Trading in a report on Tuesday, June 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.25.
GNK stock opened at $18.10 on Tuesday. Genco Shipping & Trading has a 12-month low of $13.21 and a 12-month high of $27.15. The company has a quick ratio of 2.16, a current ratio of 2.78 and a debt-to-equity ratio of 0.20. The company has a market cap of $762.05 million, a price-to-earnings ratio of 3.49 and a beta of 0.97. The company has a 50 day moving average of $22.20 and a two-hundred day moving average of $20.13.
Genco Shipping & Trading (NYSE:GNK – Get Rating) last released its 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). Genco Shipping & Trading had a return on equity of 25.50% and a net margin of 37.21%. The company had revenue of $97.76 million during the quarter, compared to analysts’ expectations of $95.11 million. On average, research analysts anticipate that Genco Shipping & Trading will post 4.62 EPS for the current year.
In related news, CEO John C. Wobensmith sold 100,000 shares of Genco Shipping & Trading 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 transaction, the chief executive officer now owns 399,099 shares in the company, valued at approximately $10,033,348.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert E. Hughes sold 3,500 shares of Genco Shipping & Trading stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $24.79, for a total transaction of $86,765.00. Following the completion of the transaction, the insider now owns 742 shares in the company, valued at approximately $18,394.18. The disclosure for this sale can be found here. Insiders sold a total of 148,500 shares of company stock worth $3,732,515 in the last quarter. Insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank acquired a new stake in Genco Shipping & Trading in the 1st quarter worth $91,000. Toroso Investments LLC acquired a new stake in Genco Shipping & Trading in the 1st quarter worth $260,000. Quantbot Technologies LP acquired a new stake in Genco Shipping & Trading in the 1st quarter worth $842,000. Royal Bank of Canada grew its position in Genco Shipping & Trading by 628.3% in the 1st quarter. Royal Bank of Canada now owns 111,095 shares of the shipping company’s stock worth $2,625,000 after purchasing an additional 95,840 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Genco Shipping & Trading by 48.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 463,157 shares of the shipping company’s stock worth $10,939,000 after purchasing an additional 151,456 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.
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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