Grindrod Shipping (NASDAQ:GRIN – Get Rating) is set to announce its earnings results after the market closes on Wednesday, August 17th. Analysts expect the company to announce earnings of $1.43 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.
Grindrod Shipping (NASDAQ:GRIN – Get Rating) last announced its quarterly earnings data on Tuesday, May 24th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20. Grindrod Shipping had a net margin of 26.61% and a return on equity of 48.54%. The company had revenue of $86.61 million during the quarter, compared to analyst estimates of $86.45 million. During the same quarter last year, the business posted $0.12 EPS. On average, analysts expect Grindrod Shipping to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Grindrod Shipping Trading Down 0.5 %
Shares of GRIN opened at $19.51 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.59. The firm has a market capitalization of $375.57 million, a price-to-earnings ratio of 2.64 and a beta of 0.95. The company has a 50-day moving average of $18.33 and a 200 day moving average of $21.95. Grindrod Shipping has a 1-year low of $11.21 and a 1-year high of $28.98.
Grindrod Shipping Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Friday, June 10th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 9.64%. The ex-dividend date of this dividend was Thursday, June 9th. Grindrod Shipping’s dividend payout ratio (DPR) is 25.47%.
Institutional Trading of Grindrod Shipping
A number of institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in Grindrod Shipping by 936.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 405,162 shares of the company’s stock worth $10,307,000 after purchasing an additional 366,052 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Grindrod Shipping by 19.0% during the 2nd quarter. Renaissance Technologies LLC now owns 298,295 shares of the company’s stock valued at $5,116,000 after acquiring an additional 47,700 shares during the period. JPMorgan Chase & Co. lifted its stake in Grindrod Shipping by 894.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 116,190 shares of the company’s stock valued at $1,992,000 after acquiring an additional 104,508 shares during the period. Engineers Gate Manager LP lifted its stake in Grindrod Shipping by 22.2% during the 1st quarter. Engineers Gate Manager LP now owns 50,809 shares of the company’s stock valued at $1,293,000 after acquiring an additional 9,239 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in Grindrod Shipping by 201.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 33,670 shares of the company’s stock valued at $577,000 after acquiring an additional 22,486 shares during the period. 32.90% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Alliance Global Partners assumed coverage on shares of Grindrod Shipping in a research report on Wednesday, August 3rd. They set a “buy” rating and a $32.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Grindrod Shipping in a research report on Wednesday, April 27th. They set a “buy” rating and a $26.00 target price on the stock. Finally, TheStreet raised shares of Grindrod Shipping from a “d+” rating to a “c+” rating in a research report on Monday, April 18th.
Grindrod Shipping Company Profile
Grindrod Shipping Holdings Ltd., an international shipping company, owns, charters-in, and operates a fleet of dry bulk carriers and tankers worldwide. It operates a fleet of 32 vessels consisting of 24 owned dry bulk carriers and 7 long-term chartered-in dry bulk carriers that transport a range of bulk and breakbulk commodities, including ores, coal, grains, forestry products, steel products, and fertilizers.
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