Genco Shipping & Trading Limited (NYSE:GNK – Get Rating) – Analysts at Jefferies Financial Group boosted their Q1 2022 earnings per share estimates for Genco Shipping & Trading in a research note issued to investors on Wednesday, April 27th. Jefferies Financial Group analyst R. Giveans now forecasts that the shipping company will post earnings per share of $0.96 for the quarter, up from their prior estimate of $0.94. Jefferies Financial Group has a “Buy” rating on the stock. Jefferies Financial Group also issued estimates for Genco Shipping & Trading’s Q2 2022 earnings at $0.94 EPS, FY2022 earnings at $3.96 EPS and FY2023 earnings at $3.76 EPS.
Other equities research analysts have also issued research reports about the stock. TheStreet upgraded shares of Genco Shipping & Trading from a “c” rating to a “b-” rating in a report on Wednesday, February 2nd. Zacks Investment Research downgraded shares of Genco Shipping & Trading from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, StockNews.com started coverage on shares of Genco Shipping & Trading in a research report on Thursday, March 31st. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $25.20.
GNK opened at $22.70 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.17 and a quick ratio of 3.59. Genco Shipping & Trading has a fifty-two week low of $13.21 and a fifty-two week high of $26.00. The firm has a market capitalization of $955.69 million, a PE ratio of 5.32 and a beta of 0.85. The company’s 50-day moving average is $21.80 and its 200 day moving average is $18.11.
Genco Shipping & Trading (NYSE:GNK – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The shipping company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.10. Genco Shipping & Trading had a net margin of 33.27% and a return on equity of 22.19%. The firm had revenue of $146.67 million for the quarter, compared to analyst estimates of $129.28 million. During the same quarter in the prior year, the business earned $0.22 earnings per share.
Several institutional investors have recently bought and sold shares of GNK. Ensign Peak Advisors Inc purchased a new stake in shares of Genco Shipping & Trading during the 4th quarter valued at $25,000. Macquarie Group Ltd. bought a new position in shares of Genco Shipping & Trading during the 3rd quarter valued at $62,000. USA Financial Portformulas Corp bought a new position in shares of Genco Shipping & Trading during the 3rd quarter valued at $63,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Genco Shipping & Trading by 120.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,477 shares of the shipping company’s stock valued at $88,000 after purchasing an additional 2,988 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Genco Shipping & Trading during the 1st quarter valued at $88,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.
In other Genco Shipping & Trading news, insider Robert E. Hughes sold 1,345 shares of the stock in a transaction that occurred on Wednesday, February 23rd. The shares were sold at an average price of $19.73, for a total value of $26,536.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John C. Wobensmith sold 14,164 shares of the firm’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $19.70, for a total transaction of $279,030.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,292 shares of company stock valued at $1,696,480. 2.07% of the stock is owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 17th. Investors of record on Thursday, March 10th were issued a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, March 9th. This is an increase from Genco Shipping & Trading’s previous quarterly dividend of $0.15. This represents a $2.68 annualized dividend and a yield of 11.81%. Genco Shipping & Trading’s dividend payout ratio (DPR) is 62.76%.
Genco Shipping & Trading Company Profile (Get Rating)
Genco Shipping & Trading Limited, together with its subsidiaries, engages in the ocean transportation of dry bulk cargoes worldwide. The company owns and operates dry bulk carrier vessels to transports iron ore, coal, grains, steel products, and other dry-bulk cargoes. It charters its vessels primarily to trading houses, including commodities traders; producers; and government-owned entities.
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