Grindrod Shipping (NASDAQ:GRIN – Get Rating) will be posting its quarterly earnings results after the market closes on Tuesday, May 24th. Analysts expect Grindrod Shipping to post earnings of $1.36 per share for the quarter.
Grindrod Shipping (NASDAQ:GRIN – Get Rating) last posted its earnings results on Wednesday, February 16th. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.25. Grindrod Shipping had a net margin of 23.38% and a return on equity of 41.13%. The company had revenue of $114.86 million for the quarter, compared to analysts’ expectations of $118.51 million. On average, analysts expect Grindrod Shipping to post $6 EPS for the current fiscal year and $5 EPS for the next fiscal year.
NASDAQ GRIN opened at $26.85 on Thursday. The firm’s 50-day moving average is $24.54 and its two-hundred day moving average is $19.86. Grindrod Shipping has a 12 month low of $7.47 and a 12 month high of $28.93. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.61 and a quick ratio of 1.47. The stock has a market capitalization of $516.86 million, a P/E ratio of 4.49 and a beta of 0.80.
A number of large investors have recently modified their holdings of GRIN. Morgan Stanley increased its stake in Grindrod Shipping by 254,963.6% during the second quarter. Morgan Stanley now owns 56,114 shares of the company’s stock worth $611,000 after purchasing an additional 56,092 shares during the period. Royal Bank of Canada increased its stake in Grindrod Shipping by 25,408.3% during the third quarter. Royal Bank of Canada now owns 15,305 shares of the company’s stock worth $236,000 after purchasing an additional 15,245 shares during the period. Millennium Management LLC purchased a new stake in Grindrod Shipping during the third quarter worth about $1,243,000. JPMorgan Chase & Co. increased its stake in Grindrod Shipping by 77.2% during the fourth quarter. JPMorgan Chase & Co. now owns 11,889 shares of the company’s stock worth $215,000 after purchasing an additional 5,178 shares during the period. Finally, Barclays PLC increased its stake in shares of Grindrod Shipping by 178.6% during the fourth quarter. Barclays PLC now owns 1,950 shares of the company’s stock worth $35,000 after buying an additional 1,250 shares during the period. Institutional investors own 32.90% of the company’s stock.
A number of research analysts have commented on the stock. Zacks Investment Research raised shares of Grindrod Shipping from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Wednesday, February 23rd. TheStreet raised shares of Grindrod Shipping from a “d+” rating to a “c+” rating in a research report on Monday, April 18th. Finally, Jefferies Financial Group initiated coverage on shares of Grindrod Shipping in a research note on Wednesday, April 27th. They set a “buy” rating and a $26.00 price target on the stock.
Grindrod Shipping Company Profile (Get Rating)
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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