Equities analysts expect Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN – Get Rating) to announce $86.45 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Grindrod Shipping’s earnings, with the lowest sales estimate coming in at $84.54 million and the highest estimate coming in at $88.35 million. Grindrod Shipping posted sales of $71.83 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.4%. The business is expected to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Grindrod Shipping will report full year sales of $363.53 million for the current financial year, with estimates ranging from $335.29 million to $391.76 million. For the next fiscal year, analysts forecast that the company will post sales of $347.71 million, with estimates ranging from $305.46 million to $389.96 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Grindrod Shipping.
Grindrod Shipping (NASDAQ:GRIN – Get Rating) last announced its earnings results on Wednesday, February 16th. The company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.25. The business had revenue of $114.86 million during the quarter, compared to analysts’ expectations of $118.51 million. Grindrod Shipping had a net margin of 23.38% and a return on equity of 41.13%.
Several research firms recently weighed in on GRIN. Jefferies Financial Group began coverage on shares of Grindrod Shipping in a research note on Wednesday, April 27th. They set a “buy” rating and a $26.00 price objective on the stock. TheStreet upgraded shares of Grindrod Shipping from a “d+” rating to a “c+” rating in a report on Monday, April 18th. Finally, Zacks Investment Research upgraded 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 report on Wednesday, February 23rd.
Shares of NASDAQ:GRIN opened at $26.06 on Friday. Grindrod Shipping has a one year low of $7.38 and a one year high of $28.93. The company has a 50 day moving average of $24.61 and a 200-day moving average of $19.30. 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 cap of $501.66 million, a price-to-earnings ratio of 4.36 and a beta of 0.80.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22nd. Investors of record on Friday, March 11th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, March 10th. This represents a $2.88 annualized dividend and a yield of 11.05%. Grindrod Shipping’s dividend payout ratio is 48.16%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its position 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. Advisor Group Holdings Inc. bought a new position in shares of Grindrod Shipping in the third quarter worth about $52,000. Dorsey Wright & Associates bought a new position in shares of Grindrod Shipping in the fourth quarter worth about $66,000. Lazard Asset Management LLC lifted its holdings in shares of Grindrod Shipping by 44.1% in the fourth quarter. Lazard Asset Management LLC now owns 6,490 shares of the company’s stock worth $117,000 after acquiring an additional 1,987 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of Grindrod Shipping in the third quarter worth about $158,000. 32.90% of the stock is owned by institutional investors and hedge funds.
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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