Genco Shipping & Trading (NYSE:GNK – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.
Several other equities analysts also recently commented on GNK. TheStreet upgraded Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Wednesday, February 2nd. Zacks Investment Research cut Genco Shipping & Trading from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Jefferies Financial Group assumed coverage on Genco Shipping & Trading in a report on Wednesday, April 27th. They issued a “buy” rating for the company. Finally, B. Riley lifted their price objective on Genco Shipping & Trading from $27.00 to $31.00 in a research report on Friday, May 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $27.00.
Shares of GNK opened at $21.82 on Wednesday. The firm has a 50-day moving average price of $22.30 and a 200 day moving average price of $18.43. The firm has a market capitalization of $918.67 million, a PE ratio of 4.20 and a beta of 0.85. The company has a quick ratio of 2.16, a current ratio of 2.78 and a debt-to-equity ratio of 0.20. Genco Shipping & Trading has a 52-week low of $13.21 and a 52-week high of $26.00.
Genco Shipping & Trading (NYSE:GNK – Get Rating) last posted its quarterly earnings data on Thursday, February 24th. The shipping company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.10. The company had revenue of $146.67 million during the quarter, compared to analyst estimates of $129.28 million. Genco Shipping & Trading had a net margin of 37.21% and a return on equity of 25.50%. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, equities analysts expect that Genco Shipping & Trading will post 4.73 EPS for the current year.
In related news, insider Robert E. Hughes sold 1,888 shares of the stock in a transaction on Friday, February 25th. The stock was sold at an average price of $19.75, for a total value of $37,288.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert E. Hughes sold 1,345 shares of the stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $19.73, for a total value of $26,536.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,292 shares of company stock worth $1,696,480. Company insiders own 2.07% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Genco Shipping & Trading by 2.9% in the 4th quarter. BlackRock Inc. now owns 2,401,373 shares of the shipping company’s stock valued at $38,422,000 after buying an additional 67,898 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Genco Shipping & Trading by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,916,725 shares of the shipping company’s stock worth $45,272,000 after purchasing an additional 164,117 shares in the last quarter. State Street Corp lifted its position in shares of Genco Shipping & Trading by 62.7% during the 4th quarter. State Street Corp now owns 1,766,568 shares of the shipping company’s stock worth $28,265,000 after buying an additional 680,853 shares during the last quarter. Millennium Management LLC lifted its position in shares of Genco Shipping & Trading by 21.3% during the 4th quarter. Millennium Management LLC now owns 1,181,560 shares of the shipping company’s stock worth $18,905,000 after buying an additional 207,637 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Genco Shipping & Trading by 7.4% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,145,733 shares of the shipping company’s stock worth $18,332,000 after buying an additional 79,385 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.
About Genco Shipping & Trading (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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