Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN – Get Rating) – Analysts at Jefferies Financial Group lifted their Q1 2022 earnings per share estimates for shares of Grindrod Shipping in a note issued to investors on Wednesday, April 27th. Jefferies Financial Group analyst R. Giveans now forecasts that the company will post earnings of $1.55 per share for the quarter, up from their previous estimate of $1.37. Jefferies Financial Group has a “Buy” rating and a $26.00 price objective on the stock. Jefferies Financial Group also issued estimates for Grindrod Shipping’s FY2022 earnings at $5.84 EPS.
Other research analysts also recently issued research reports about the stock. 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 raised shares of Grindrod Shipping from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, February 23rd.
Grindrod Shipping stock opened at $25.60 on Friday. The company has a fifty day simple moving average of $24.24 and a 200 day simple moving average of $18.81. Grindrod Shipping has a 1-year low of $7.38 and a 1-year high of $28.93. The company has a market cap of $492.80 million, a P/E ratio of 4.28 and a beta of 0.86. The company has a current ratio of 1.61, a quick ratio of 1.47 and a debt-to-equity ratio of 0.70.
Grindrod Shipping (NASDAQ:GRIN – Get Rating) last released its earnings results on Wednesday, February 16th. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.25. The business had revenue of $114.86 million during the quarter, compared to the consensus estimate of $118.51 million. Grindrod Shipping had a net margin of 23.38% and a return on equity of 41.13%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Investments LP acquired a new stake in Grindrod Shipping in the 3rd quarter worth about $378,000. Trexquant Investment LP acquired a new stake in Grindrod Shipping in the 3rd quarter worth about $212,000. Advisor Group Holdings Inc. acquired a new stake in Grindrod Shipping in the 3rd quarter worth about $52,000. Marshall Wace LLP acquired a new stake in Grindrod Shipping in the 3rd quarter worth about $5,475,000. Finally, Dorsey Wright & Associates acquired a new stake in Grindrod Shipping in the 4th quarter worth about $66,000. Institutional investors own 38.87% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 22nd. Stockholders of record on Friday, March 11th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 11.25%. The ex-dividend date of this dividend was Thursday, March 10th. Grindrod Shipping’s dividend payout ratio is presently 48.16%.
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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