Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN – Get Rating) – Equities researchers at Jefferies Financial Group issued their Q2 2022 earnings per share estimates for Grindrod Shipping in a report released on Wednesday, May 25th. Jefferies Financial Group analyst C. Robertson forecasts that the company will post earnings per share of $2.36 for the quarter. Jefferies Financial Group has a “Buy” rating and a $26.00 price target on the stock. Jefferies Financial Group also issued estimates for Grindrod Shipping’s Q3 2022 earnings at $1.36 EPS, Q4 2022 earnings at $1.01 EPS, FY2022 earnings at $6.29 EPS and FY2023 earnings at $4.90 EPS. Grindrod Shipping (NASDAQ:GRIN – Get Rating) last announced its quarterly earnings results on Tuesday, May 24th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.20. Grindrod Shipping had a net margin of 26.61% and a return on equity of 48.54%. During the same quarter in the previous year, the business posted $0.12 EPS.
GRIN has been the topic of several other research reports. TheStreet raised shares of Grindrod Shipping from a “d+” rating to a “c+” rating in a research report on Monday, April 18th. Zacks Investment Research cut shares of Grindrod Shipping from a “buy” rating to a “hold” rating in a research report on Friday.
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Shares of GRIN stock opened at $26.08 on Monday. The company’s 50-day moving average price is $25.23 and its 200-day moving average price is $20.59. The company has a current ratio of 1.77, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The stock has a market cap of $502.04 million, a price-to-earnings ratio of 3.53 and a beta of 0.80. Grindrod Shipping has a twelve month low of $8.21 and a twelve month high of $28.98.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in 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 purchasing an additional 1,250 shares during the period. Quantbot Technologies LP purchased a new stake in Grindrod Shipping during the first quarter worth about $35,000. Captrust Financial Advisors purchased a new stake in Grindrod Shipping during the first quarter worth about $38,000. Advisor Group Holdings Inc. purchased a new stake in Grindrod Shipping during the third quarter worth about $52,000. Finally, Dorsey Wright & Associates purchased a new stake in Grindrod Shipping during the fourth quarter worth about $66,000. 32.90% of the stock is currently owned by institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 20th. Shareholders of record on Friday, June 10th will be given a $0.47 dividend. The ex-dividend date is Thursday, June 9th. This represents a $1.88 dividend on an annualized basis and a yield of 7.21%. Grindrod Shipping’s payout ratio is currently 39.02%.
About Grindrod Shipping (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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