Grindrod Shipping (NASDAQ:GRIN – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.
According to Zacks, “Grindrod Shipping Holdings Ltd. owns and operates a diversified fleet of owned, long-term chartered-in and joint-venture owned drybulk and liquid-bulk vessels. The drybulk business operates under the brand Island View Shipping includes handysize drybulk carriers and supramax drybulk carriers. The liquid-bulk business, operates under the brand Unicorn Shipping includes a fleet of Medium Range product tankers and small tankers. It operates primarily in London, Durban, Cape Town, Tokyo and Rotterdam. Grindrod Shipping Holdings Ltd. is based in Singapore. “
Other analysts have also recently issued research reports about the company. Jefferies Financial Group assumed coverage on Grindrod Shipping in a research report on Wednesday, April 27th. They set a “buy” rating and a $26.00 price target for the company. TheStreet upgraded Grindrod Shipping from a “d+” rating to a “c+” rating in a research note on Monday, April 18th.
Shares of NASDAQ GRIN traded down $1.01 during midday trading on Friday, hitting $26.08. The company’s stock had a trading volume of 363,066 shares, compared to its average volume of 458,183. The company has a current ratio of 1.61, a quick ratio of 1.47 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $25.23 and its two-hundred day moving average is $20.51. Grindrod Shipping has a 12-month low of $8.21 and a 12-month high of $28.98. The firm has a market cap of $502.04 million, a P/E ratio of 4.36 and a beta of 0.80.
Grindrod Shipping (NASDAQ:GRIN – Get Rating) last released its quarterly earnings data on Tuesday, May 24th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.36 by $0.20. Grindrod Shipping had a return on equity of 41.13% and a net margin of 23.38%. During the same quarter in the prior year, the company posted $0.12 EPS. On average, analysts predict that Grindrod Shipping will post 5.91 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Grindrod Shipping by 178.6% during the 4th 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 last quarter. Quantbot Technologies LP purchased a new position in Grindrod Shipping in the first quarter valued at $35,000. Captrust Financial Advisors acquired a new position in Grindrod Shipping in the first quarter valued at $38,000. Advisor Group Holdings Inc. acquired a new stake in shares of Grindrod Shipping during the third quarter worth about $52,000. Finally, Dorsey Wright & Associates acquired a new stake in Grindrod Shipping in the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 32.90% of the company’s stock.
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.
Further Reading
Get a free copy of the Zacks research report on Grindrod Shipping (GRIN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Grindrod Shipping Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Grindrod Shipping and related companies with MarketBeat.com’s FREE daily email newsletter.
